Sears to offer REIT share rights

HOFFMANN ESTATES, Ill. — Sears Holding Corp. posted both smaller losses and lower profits than anticipated for the quarter, and announced that it is planning a rights offering for shares in its REIT on Friday. The offering, in preparation for Sears’ projected spinoff of 235 properties, is expected to generate $2.6 billion. Combined with the three deals Sears reached in April to sell or lease back stores to mall operators, the launch will raise more than $3 billion, according to the company.