Prospectus excerpt: Brandywine Realty Trust is offering 4,000,000 shares of its 6.90% Series E Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value per share and liquidation preference $25.00 per share, or ÙSeries E Preferred Shares.ˆ
Distributions on the Series E Preferred Shares will be payable on a cumulative basis quarterly in arrears on or about January 15, April 15, July 15 and October 15 of each year. The distribution rate will be 6.90% per annum of the $25.00 liquidation preference, which is equivalent to $1.725 per annum per Series E Preferred Share. The first distribution on the Series E Preferred Shares sold in this offering will be paid on July 15, 2012 and will be in the amount of $0.4504 per share.
Generally, we may not redeem the Series E Preferred Shares until April 11, 2017. On and after April 11, 2017, we may, at our option, redeem the Series E Preferred Shares, in whole or in part, at any time at a redemption price of $25.00 per share, plus any accumulated and unpaid distributions to, but not including the redemption date. In addition, upon the occurrence of a change of control the result of which is that our common shares of beneficial interest, $0.01 par value per share, or Ùcommon shares,ˆ and the common securities of the acquiring or surviving entity (or American Depositary Receipts representing such securities) are not listed on the New York Stock Exchange, the NYSE Amex or NASDAQ or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series E Preferred Shares, in whole or in part, no later than 120 days after the first date on which such change of control occurs, at a redemption price of $25.00 per share, plus any accumulated and unpaid distributions to, but not including the redemption date. If we exercise any of our redemption rights relating to the Series E Preferred Shares, the holders of Series E Preferred Shares will not have the conversion right described below. The Series E Preferred Shares will have no maturity date and will remain outstanding indefinitely unless redeemed by us or converted into common shares in connection with a change of control by the holders of Series E Preferred Shares.