IPO - Hudson Pacific Properties, Inc.

Form Type: 424B5

Filing Date: 2025-06-11

Corporate Action: Ipo

Type: New

Accession Number: 000119312525139193

Filing Summary: Hudson Pacific Properties, Inc. is offering up to $600,000,000 in shares of common stock and pre-funded warrants. The company will issue common stock at a price determined by the offering, with pre-funded warrants offered under similar terms but subject to a 19.9% ownership limitation. The prospectus supplement discusses the company's qualification as a Real Estate Investment Trust (REIT) and includes important information regarding ownership restrictions to maintain REIT status. The company has reported a net loss of $381.4 million for the year ended December 31, 2024, with significant contributions to net operating income from key markets such as Silicon Valley and San Francisco. As of March 31, 2025, Hudson Pacific’s portfolio encompasses 14.3 million square feet of office space, alongside extensive studio properties. The summary highlights recent leasing activity, indicating a substantial increase compared to previous quarters, and discusses management's strategies for debt management and operational efficiency, with goals for further capital growth through selective investments. Risks affecting the company’s operations include market conditions and leasing demand fluctuations, with the current pursuit of opportunities to optimize general and administrative expenses being a key focus. The offering is underwritten by BofA Securities, Wells Fargo Securities, and RBC Capital Markets, with expected delivery to purchasers around mid-2025.