** Shares of SL Green Realty rise 2.1% to $80.80 early Fri, extending winning streak to five sessions, after overnight follow-on priced ** Manhattan office REIT (real estate investment trust) late Thurs sold ~5.1 mln shares at $79 for $400 mln gross raise
** Offering priced just 15 cents below stock's last sale of $79.15
** SLG plans to use net offering proceeds for general purposes, including new debt and equity investment opportunities, and debt repayment ** The REIT has 66.7 mln shares outstanding as of Nov 21, per latest SEC filing, giving it current market cap of ~$5.4 bln
** Wells Fargo, J.P. Morgan, TD Securities, BMO and Deutsche Bank jt bookrunners for offering ** After the bell Thurs, SLG also said it closed on sale of an 11% interest in One Vanderbilt Avenue to Japan's Mori Building Co., Ltd
** With move on Fri, shares up nearly 80% YTD and have quadrupled from their Mar 2023 lows
(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))
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