BEVERLY HILLS, California
,
June 29, 2011
(press release)
–
International real estate investment and services firm Kennedy-Wilson Holdings, Inc. (“Kennedy Wilson”) (NYSE:KW - News) today announced that it has entered into an agreement with two global institutional investors, including an affiliate of Fairfax Financial Holdings Limited. This transaction will result in gross proceeds of approximately $51.4 million and broaden the company’s shareholder base. No private placement agents were associated with this transaction.
Under the terms of the definitive agreement, Kennedy Wilson will issue and sell 4,800,000 shares of its common stock at a price of $10.70 per share. Kennedy Wilson intends to use the net proceeds from the private placement to fund future acquisitions and for general working capital purposes.
The securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. This news release is being issued pursuant to Rule 135c under the Securities Act of 1933, as amended, and is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 23 offices in the U.S., Europe and Japan. The company offers a comprehensive array of real estate services including auction, conventional sales, property services and investment management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the U.S., Europe and Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com.
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