Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield plc (NYSE: CWK) announced a public offering of 10,000,000 ordinary shares priced at $18.75 each, set to close on June 7, 2021. The offering is solely from existing shareholders, including TPG and Ontario Teachers’ Pension Plan, with no proceeds going to the company itself. An additional 1,500,000 shares may be purchased by underwriters within 30 days. Goldman Sachs is the sole underwriter. The SEC has previously registered the shares, and the offering documentation can be accessed free through the SEC’s website.

Cushman & Wakefield (NYSE: CWK) has announced a proposed underwritten public offering of 10 million ordinary shares, solely from existing shareholders, with no proceeds going to the company. The offering features a 30-day underwriter option for an additional 1.5 million shares. Goldman Sachs & Co. LLC is the sole underwriter, and the offering is backed by an automatically effective shelf registration statement filed with the SEC. The final offering terms will be detailed in an upcoming prospectus supplement.

Magdalen College Oxford is engaging Cushman & Wakefield (NYSE: CWK) to find a strategic partner for The Oxford Science Park (TOSP), enhancing its role as a hub for innovation. The park houses over 100 high-profile companies and is looking to expand its 250,000 square feet of existing facilities by adding 420,000 square feet.

Aiming to meet soaring demand for lab and office space, the college is offering a 40% equity share in TOSP for potential partners. This initiative seeks to bolster capital investment and support the growth of existing tenants and new companies.

Cushman & Wakefield (NYSE: CWK) reported Q1 2021 revenue of $1.9 billion, a 1% increase year-over-year. Fee revenue reached $1.3 billion, also up 1%. Adjusted EBITDA surged 42% to $99.7 million, with a margin of 7.5%. Despite a net loss of $17.2 million or $0.08 per share, the company achieved $60 million in savings. With $2.0 billion in liquidity, including $1.0 billion in cash, the firm is poised for growth amid recovering market conditions.

Cushman & Wakefield (NYSE: CWK) has appointed Holly Tyson as Chief People Officer, effective May 10. In this role, she will oversee human resources for the company's 50,000 global employees and develop a customer-centric people strategy. Tyson, who previously served as CHRO at Zebra Technologies and DICK’S Sporting Goods, brings over 20 years of HR leadership experience. Her focus will be on fostering an inclusive culture and improving the employee experience post-COVID-19. The firm aims for efficiency and agility under her leadership.

Cushman & Wakefield (NYSE: CWK) has facilitated the procurement of $750 million for the refinancing of Burlingame Point, a premier office campus on the San Francisco Peninsula, on behalf of Kylli, Inc. The financing features a 9.3-year fixed rate and was arranged with prominent financial institutions including Goldman Sachs and J.P. Morgan. Burlingame Point is a LEED Gold-certified property comprising 771,000 rentable square feet and amenities that support innovative business needs. This project exemplifies Cushman & Wakefield's expertise in delivering quality real estate solutions in challenging environments.

Legacy Investing has successfully finalized a lease with Cogent Communications at the newly expanded T5@Minneapolis data center, located at 1001 Third Avenue South, Minneapolis. The facility offers 3.9MW of turnkey capacity, catering to data center tenants. Cogent's addition enhances the ecosystem for current and future tenants, leveraging T5's operational capabilities. This strategic move emphasizes Legacy's focus on mission-critical real estate in the technology sector, supported by its partnership with T5 Data Centers, known for managing substantial data center operations.

Cushman & Wakefield (NYSE: CWK) has been recognized with the 2021 ENERGY STAR Partner of the Year—Sustained Excellence Award for its significant role in energy efficiency and climate change efforts, marking its ninth consecutive year of this recognition. This award is the highest honor from the ENERGY STAR program, highlighting the firm's commitment to creating sustainable environments. With approximately 50,000 employees and 2020 revenues of $7.8 billion, Cushman & Wakefield continues to lead in providing valuable real estate services.