EastGroup Properties, a real estate investment trust based in Jackson, Miss., has priced a direct offering of 571,429 shares of common stock at $26.25 per share.The shares will be sold to an institutional buyer, with A. G. Edwards & Sons acting as the exclusive placement agent, the REIT said. The net proceeds of approximately $14.5 million may be used for general purposes, asset acquisition, new development, and the possible redemption of the company's series A preferred stock, EastGroup said. The REIT can be found online at http://www.eastgroup.net.
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