backATLANTA, March 23, 2017 — King & Spalding acted as legal adviser to Morgan Stanley and Raymond James, as bookrunning managers and representatives of the several underwriters, in an underwritten public offering of 5,000,000 common shares issued by Rayonier Inc. (NYSE:RYN) at a price of $27.75 per share.
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. Rayonier granted the underwriters a 30-day option to purchase up to an additional 750,000 common shares as part of the offering, which was exercised in full in connection with the completion of the offering. Rayonier intends to use the net proceeds from the offering to finance a portion of its acquisition of approximately 95,100 acres of high-quality industrial timberlands in Florida, Georgia and South Carolina.
The King & Spalding team was led by Keith Townsend and Spencer Johnson and included senior associate Zach Cochran and associates Nick Brown and Shalin Sheth. Additional King & Spalding lawyers included partners Peter Genz and Jonathan Talansky, senior associate Robert Beard and associate Greg Lucas.
About King & SpaldingCelebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1000 lawyers in 19 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.