Item 1.01 Entry into a Material Definitive Agreement.
On June 2, 2009, Brandywine Realty Trust (the "Company") completed an
underwritten public offering (the "Offering") of 40,250,000 of our common shares
of beneficial interest, par value $0.01 per share (collectively, the "Common
Shares"), with Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities Inc., and Citigroup Global Markets Inc., as representatives of the
several underwriters (the "Underwriters") named in the Underwriting Agreement
(as defined herein below). The Common Shares were issued and sold by the Company
to the Underwriters at a public offering price of $6.30 per Common Share
pursuant to an Underwriting Agreement (the "Underwriting Agreement") entered
into on May 27, 2009 by and among the Company, Brandywine Operating Partnership,
L.P., the subsidiary through which the Company owns its assets and conducts its
business, and the Underwriters. The Common Shares sold include 5,250,000 shares
issued and sold pursuant to the Underwriters' exercise in full of their
over-allotment option under the Underwriting Agreement. A copy of the
Underwriting Agreement is filed herewith as Exhibit 1.1.
The Company estimates that it will receive net proceeds of approximately
$242.5 million from the Offering after deducting underwriting discounts and
commissions and expenses. The Company intends to use the net proceeds from the
Offering to repay outstanding borrowings under its $600 million unsecured
revolving credit facility and for general corporate purposes.
Item 9.01. Financial Statements and Exhibits
Exhibit
1.1 Underwriting Agreement among Brandywine Realty Trust, Brandywine Operating
Partnership, L.P., and Merrill Lynch & Co., Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, J.P. Morgan Securities Inc., and Citigroup
Global Markets Inc., as representatives of the Underwriters named in
Schedule I thereto, dated May 27, 2009
5.1 Opinion of Pepper Hamilton LLP regarding the legality of the Common Shares
8.1 Opinion of Pepper Hamilton LLP as to certain tax matters
23.1 Consent of Pepper Hamilton LLP (contained in Exhibit 5.1 hereto)
23.2 Consent of Pepper Hamilton LLP (contained in Exhibit 8.1)
|
Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
Brandywine Realty Trust
By: /s/ Howard M. Sipzner
Howard M. Sipzner
Executive Vice President and Chief Financial Officer
By: Brandywine Operating Partnership, L.P.
By: Brandywine Realty Trust, its General Partner
By: /s/ Howard M. Sipzner
Howard M. Sipzner
Executive Vice President and Chief Financial Officer
Date: June 2, 2009