Tanger Announces Pricing of Public Offering of 4 Million Common Shares

Company Release - 06/30/2011 07:45

GREENSBORO, N.C., June 30, 2011 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc.(NYSE:SKT) (the "company"), today announced that the public offering price for the previously announced 4,000,000 common shares previously sold to Jefferies & Company, Inc., the sole underwriter of the offering, is $25.95 per share. The company has also granted the underwriter a 30-day option to purchase up to 600,000 additional shares to cover overallotments, if any. Subject to customary conditions, the offering is expected to close on July 6, 2011.

The company intends to use the net proceeds of this offering to pay down amounts outstanding under the company's senior unsecured lines of credit and for general corporate purposes

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