05:06 PM EST, 12/10/2024 (MT Newswires) -- Cousins Properties ( CUZ ) said late Tuesday it launched a public offering of 9.5 million common shares.

The company said it plans to use the net proceeds of the offering to buy an office property in Downtown Austin, Texas, or, if that doesn't happen, for general corporate purposes like property acquisitions, investments, and debt repayment.

This offering will be made under a prospectus supplement to the company's May 8, prospectus, filed as part of its effective shelf registration statement for the shares, Cousins Properties ( CUZ ) said.

Shares of Cousins Properties ( CUZ ) were down 0.3% in after-hours activity.