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IPO Preview: Easterly Government Properties

Based in Washington, D.C., Easterly Government Properties (Pending:[[DEA]]) scheduled a $180 million IPO on NYSE with a market capitalization of $570 million at a price range midpoint of $15 for Friday, Feb. 6, 2015. Priced at $15.

The full IPO calendar is available at IPOpremium

SEC Documents

Manager, Joint-managers: Citigroup, Raymond James, RBC Capital Markets
Co-managers: Piper Jaffray, PNC Capital Markets, SunTrust Robinson Humphrey

End of lockup (180 days): Wednesday, August 5, 2015
End of 25-day quiet period: Tuesday, March 3, 2015

Summary
DEA is a newly organized and internally managed Maryland corporation that intends to qualify as a real estate investment trust, or REIT, focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies that serve essential functions.

Valuation
Glossary

Per share dilution

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-$0.77

     

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Valuation Ratios

Mrkt Cap ($mm)

Price /Sls

Price /Erngs

Price /BkVlue

Price