Hudson Pacific Properties, Inc. ("Hudson Pacific" or the "Company") (NYSE:HPP) today announced that it will effect a 1-for-7 reverse stock split (the "Reverse Stock Split") of its common stock, par value $0.01 per share ("Common Stock") that will become effective at 5:00 p.m. Eastern Time on December 1, 2025 (the "Effective Time").
The Company expects that its Common Stock will open for trading on the New York Stock Exchange ("NYSE") on a reverse split-adjusted basis on December 2, 2025 under the existing trading symbol "HPP". The new CUSIP number for the Common Stock following the Reverse Stock Split will be 444097406.
The Reverse Stock Split was approved by the Company's board of directors. The Company will amend its charter to implement the Reverse Stock Split as of the Effective Time and to make corresponding reductions to the par value per share of the post-split Common Stock and number of authorized shares of capital stock.
At the Effective Time of the Reverse Stock Split, every seven shares of Common Stock outstanding and held of record by each stockholder of the Company will be automatically reclassified into one new share of Common Stock. As a result of the Reverse Stock Split, proportionate adjustments will be made to the number of shares of Common Stock underlying Hudson Pacific's outstanding equity awards and the number of shares issuable under Hudson Pacific's equity incentive plans and existing agreements, as well as the exercise price and/or any stock price goals, as applicable.
The Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the Reverse Stock Split results in some stockholders receiving cash in lieu of fractional shares. No fractional shares will be issued in connection with the Reverse Stock Split. Instead, each stockholder will be entitled to receive a cash payment in lieu thereof at a price equal to the fraction of one share to which the stockholder would otherwise be entitled multiplied by the closing price per share of Common Stock on the NYSE on December 1, 2025 (on a split-adjusted basis).
All outstanding pre-funded warrants to purchase the Company's Common Stock will be adjusted as a result of the Reverse Stock Split in accordance with the terms of the warrants. In particular, every 7 shares of the Company's Common Stock that may be purchased pursuant to such warrants will represent one share of the Company's Common Stock that may be purchased pursuant to such warrants. The exercise price per share of our pre-funded warrants will be $0.07, which equals the product of 7 multiplied by $0.01, the exercise price per share prior to the Reverse Stock Split.
Computershare Trust Company, N.A. is acting as transfer and exchange agent for the Reverse Stock Split. Registered stockholders who hold shares of Common Stock are not required to take any action to receive post-reverse split shares. Stockholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split.
About Hudson Pacific Properties
Hudson Pacific Properties (NYSE:HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC.
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(310) 622-1702
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