SANTA MONICA, Calif., June 15, 2026 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the "Company" or "Macerich") announced today that it has commenced an underwritten public offering of 14,000,000 shares of common stock in connection with the forward sale agreement described below. Goldman Sachs & Co. LLC is serving as the lead bookrunner and representative of the underwriters of the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock.

The Company expects to enter into a forward sale agreement with each of Goldman Sachs & Co. LLC or its affiliates, and one or more other financial institutions (the "forward purchasers"), with respect to 14,000,000 shares of the Company's common stock. In connection with the forward sale agreement, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 14,000,000 shares of the common stock that will be delivered in the offering. Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, the Company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than June 16, 2027 an aggregate of 14,000,000 shares of its common stock (or an aggregate of 16,100,000 shares of common stock if the underwriters exercise their option to purchase additional shares in full) to the forward purchasers in exchange for cash proceeds per share equal to the applicable ...