SANTA MONICA, Calif., June  15, 2026  (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the &#34;Company&#34; or &#34;Macerich&#34;) announced today that it has priced an underwritten public offering of 14,000,000 shares of common

Macerich Announces Pricing of Public Offering of Common Stock

Macerich launches 14 million share offering via forward sale at $23.90

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SANTA MONICA, Calif., June  15, 2026  (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the &amp;#34;Company&amp;#34; or &amp;#34;Macerich&amp;#34;) announced today that it has priced an underwritten public offering of 14,000,000 shares of common</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Macerich priced an underwritten public offering of 14 million shares at $23.90 per share, using forward sale agreements to defer proceeds while fixing pricing. The deal includes a 30-day option to purchase up to 2.1 million additional shares, with closing expected June 17, 2026. Proceeds are intended for acquisitions and general corporate purposes, with deployment timing scrutinized for potential value creation.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Macerich prices 14M shares at $23.90; forward sale agreements govern delivery.</li><li>Underwriters may exercise up to 2.1M additional shares; close expected June 17, 2026.</li><li>Proceeds to fund acquisitions; initial proceeds flow to forward purchasers, not Macerich.</li><li>Pricing now; issuance occurs later, creating near-term dilution overhang.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Macerich Company (MAC)</strong>: Issuer; equity offering with forward-sale structure; dilution overhang potential.</li><li><strong>Goldman Sachs &amp; Co. LLC (GS)</strong>: Lead bookrunner; forward purchaser involvement; key fee/participation in structure.</li><li><strong>Deutsche Bank Securities (DB)</strong>: Joint bookrunner; part of underwriting group; involvement in forward-sale mechanics.</li><li><strong>JPMorgan Chase Bank, National Association (JPM)</strong>: Forward purchaser; contributes to share borrowing/sale via forward agreements.</li><li><strong>Morgan Stanley (MS)</strong>: Forward purchaser; integral in the forward-sale financing framework.</li><li><strong>Scotiabank (BNS)</strong>: Joint bookrunner; participant in underwriting and overall financing package.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. A REIT equity offering with forward-sale mechanics; affects MAC’s capital structure and potential acquisition funding without immediate cash proceeds.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Dilution overhang from 14 million new MAC shares dilutes near-term earnings base.</li><li>30-day option for 2.1 million more shares adds supply risk.</li><li>Close date set for June 17, 2026; settlement by June 16, 2027.</li><li>Proceeds earmarked for acquisitions; deployment timing critical for value creation.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>14,000,000 shares priced at $23.90 per share.</li><li>30-day option to purchase up to 2,100,000 additional shares.</li><li>Forward sale agreements with forward purchasers; settlement no later than June 16, 2027.</li><li>Closing of offering expected June 17, 2026.</li><li>Net proceeds to fund acquisitions and general corporate purposes; initial proceeds not received by Macerich.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term MAC may see modest dilution-driven pressure; watch settlement timing and use of proceeds over 1–3 months.</p>
  </section>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>SANTA MONICA, Calif., June  15, 2026  (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAC">MAC</a>) (the "Company" or "Macerich") announced today that it has priced an underwritten public offering of 14,000,000 shares of common stock at a price to public of $23.90 per share, all of which are being offered in connection with the forward sale agreements described below.</p>  <p>Goldman Sachs &amp; Co. LLC is serving as the lead bookrunner and representative of the underwriters of the offering. Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, BMO Capital Markets, TD Securities and Scotiabank are also serving as joint bookrunning managers for the offering.</p>  <p>The Company is entering into forward sale agreements with Goldman Sachs &amp; Co. LLC, Deutsche Bank AG, London Branch, JPMorgan Chase Bank, National Association and Morgan Stanley or their affiliates (the &#34;forward purchasers&#34;), with respect to 14,000,000 shares of the Company&#39;s common stock. In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell an aggregate of 14,000,000 shares of the common stock that will be delivered in the offering. Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, the Company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than June 16, 2027 an aggregate of 14,000,000 shares of its common stock to the forward purchasers or their affiliates in exchange for cash proceeds per share equal to the applicable forward sale price at the time of such settlement, subject to certain adjustments as provided in the forward sale agreements.</p>  <p>The Company has granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock. If the underwriters exercise such option, the Company expects to enter into additional forward sale agreements with the forward purchasers in respect of the number of shares sold by the forward purchasers or their respective affiliates in connection with the exercise of such option.</p>  <p>The offering is expected to close on June 17, 2026 subject to customary closing conditions.</p>  <p>The Company will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers or their affiliates in the offering. The Company intends to use the net proceeds, if any, it receives upon the future settlement of the forward sale agreements to fund future acquisition opportunities and for general corporate purposes. Pending such use, the Company may invest the net proceeds in short-term, interest-bearing deposit accounts.</p>  <p>Selling common stock through the forward sale agreements enables the Company to set the price of such shares upon the pricing of the offering (subject to certain adjustments) while delaying the issuance of such shares and the receipt of the net proceeds by the Company until a time closer to the funding requirements described above.</p>  <p>Copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: Goldman Sachs &amp; Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email at <a href="https://www.globenewswire.com/Tracker?data=MBkXVZXkvoNMBexa6E2n17defZypbGdwapYbeEMQG2txJ0_GOX6yqQ8paA945IGlZrogopyopnZLvFCzh3aGm9Stau3LdErzrWcpXyOS3rMA147nWYxqOA3sv9OXT69b" rel="nofollow" target="_blank">Prospectus-ny@ny.email.gs.com</a>.</p>  <p>This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any such offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.</p>  <p><strong>About the Company</strong></p>  <p>Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAC">MAC</a>) is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns approximately 41 million square feet of real estate, consisting primarily of interests in 39 retail centers.</p>  <p><strong>Forward-Looking Information</strong></p>  <p>Information set forth in this press release contains "forward-looking statements" (within the meaning of the federal securities laws, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which reflect the Company's expectations regarding future events and plans, including, but not limited to, statements regarding the closing of the offering, the underwriters' option to purchase additional shares of common stock and the Company's anticipated use of net proceeds from the offering. Generally, the words "expects," "anticipates," "projects," "intends," "plans," "believes," "seeks," "estimates," "scheduled," "predicts," "may," "will," "should," "could," variations of such words and similar expressions identify forward-looking statements. The forward-looking statements are based on information currently available to us and involve a number of known and unknown assumptions, risks, uncertainties and other factors, which may be difficult to predict and beyond the control of the Company, which could cause actual results to differ materially from those contained in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the Company's ability to close the offering including that the closing of the aforementioned offering is subject to, among other things, standard closing conditions and customary rights of the underwriters to terminate the underwriting agreement due to any material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions; the actual use of proceeds therefrom; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at <a href="http://www.sec.gov" title="www.sec.gov">www.sec.gov</a>. The Company disclaims any obligation to publicly update or revise any forward-looking statements contained in this press release whether as a result of changes in underlying assumptions or factors, new information, future events or otherwise, except as required by law.</p>  <p><strong>INVESTOR CONTACT</strong>: Investor Relations, <a href="https://www.globenewswire.com/Tracker?data=j2yhW75jFvIrA9L2MEcQmrf1OMPjc_hNtDagpkTR_QxYeZwFyX7SKSne4AAIlyYaeVpG4N74lsIivmnAwY2ewp-33qpWwCGV9sbTrHIA7Bw=" rel="nofollow" target="_blank">IR@macerich.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc0NzQ5NCM3NjYzMDgwIzIwMDM4Njk="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZmY4MjU0OWItMDdjYy00OWNkLTk0MTMtOTkxZjYxMmQ4NjM3LTEwMTU0NDItMjAyNi0wNi0xNi1lbg==/tiny/Macerich-Company.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/3be8097e-249f-414b-b3a8-0b9cfb6190fb"><img src="https://ml.globenewswire.com/media/3be8097e-249f-414b-b3a8-0b9cfb6190fb/small/macerich-blk-2-png.png" border="0" width="150" height="31" alt="Primary Logo"></img></a></p>

Macerich priced an underwritten public offering of 14 million shares at $23.90 per share, using forward sale agreements to defer proceeds while fixing pricing. The deal includes a 30-day option to purchase up to 2.1 million additional shares, with closing expected June 17, 2026. Proceeds are intended for acquisitions and general corporate purposes, with deployment timing scrutinized for potential value creation.

Macerich Announces Pricing of Public Offering of Common Stock

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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