Tanger Announces Sale of 4 Million Common Shares

Tanger Factory Outlet Centers SKT today announced the sale of 4,000,000 common shares to Jefferies & Company, Inc. as the sole underwriter in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission. The company has also granted the underwriter a 30-day option to purchase up to 600,000 additional shares to cover overallotments, if any. 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.