LOS ANGELES--(BUSINESS WIRE)--Nov. 3, 2009--
CB Richard Ellis Group, Inc. (NYSE:CBG) announced today that it intends
to sell shares of its Class A common stock, having an aggregate offering
price of up to $300 million, from time to time, pursuant to an
at-the-market offering program through BofA Merrill Lynch, as sales
agent and/or principal.
The Company intends to use the net proceeds from the offering for
general corporate purposes, which may include repayment of a portion of
its outstanding indebtedness under its senior secured credit agreement.
The Company has filed a registration statement (including a prospectus)
and a prospectus supplement with the Securities and Exchange Commission
(the “SEC”) for the offering of Class A common stock described in this
communication. Before you invest, you should read the prospectus in that
registration statement, the prospectus supplement relating to the
at-the-market offering and other documents the Company has filed with
the SEC for more complete information about it and the at-the-market
offering program. You may obtain these documents for free by visiting
EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the Company or the sales agent will arrange to send you
the prospectus supplement (including the prospectus) if you request it
by contacting BofA Merrill Lynch, 4 World Financial Center, New York,
New York 10080, Attn: Preliminary Prospectus Department or by email to Prospectus.Requests@ml.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Company’s Class A common stock nor
shall there be any sale of such common stock in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P
500 company headquartered in Los Angeles, is the world’s largest
commercial real estate services firm (in terms of 2008 revenue). The
Company has approximately 30,000 employees (excluding affiliates), and
serves real estate owners, investors and occupiers through more than 300
offices (excluding affiliates) worldwide. CB Richard Ellis offers
strategic advice and execution for property sales and leasing; corporate
services; property, facilities and project management; mortgage banking;
appraisal and valuation; development services; investment management;
and research and consulting.
“Safe Harbor” Statement Under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements include, but are not
limited to, statements related to the proposed offering of shares of the
Company’s Class A common stock and the anticipated use of proceeds
therefrom. These forward-looking statements involve known and unknown
risks, uncertainties and other factors discussed in the Company’s
filings with the SEC. Any forward-looking statements speak only as of
the date of this press release and, except to the extent required by
applicable securities laws, the Company expressly disclaims any
obligation to update or revise any of them to reflect actual results,
any changes in expectations or any change in events. If the Company does
update one or more forward-looking statements, no inference should be
drawn that it will make additional updates with respect to those or
other forward-looking statements. For additional information concerning
risks, uncertainties and other factors that may cause actual results to
differ from those anticipated in the forward-looking statements, and
risks to the Company’s business in general, please refer to its SEC
filings, including its Annual Report on Form 10-K for the fiscal year
ended December 31, 2008 and its Quarterly Reports on Form 10-Q for the
quarterly periods ended March 31, 2009 and June 30, 2009.
Source: CB Richard Ellis Group, Inc.
Robert Sulentic
Chief Financial Officer and Group President
310.405.8905
or
Steve
Iaco
Corporate Communications
212.984.6535
or
Nick
Kormeluk
Investor Relations
949.809.4308
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