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| Stockholders' Equity / Partners' Capital | 10. Stockholders’ Equity / Partners’ Capital As of June 30, 2025, BXP had 158,366,277 shares of Common Stock outstanding. As of June 30, 2025, BXP owned 1,767,941 general partnership units and 156,598,336 limited partnership units in BPLP. On May 17, 2023, BXP renewed its “at the market” (“ATM”) stock offering program through which it may sell from time to time up to an aggregate of $600.0 million of its Common Stock through sales agents over a three-year period. Under the ATM stock offering program, BXP may also engage in forward sale transactions with affiliates of certain sales agents for the sale of its Common Stock on a forward basis. This program replaced BXP’s prior $600.0 million ATM stock offering program that was scheduled to expire on May 22, 2023. BXP intends to use the net proceeds from any offering for general business purposes, which may include investment opportunities and debt reduction. No shares of Common Stock have been issued under this ATM stock offering program. During the six months ended June 30, 2025, BXP issued 116,204 shares of Common Stock in connection with the redemption of an equal number of redeemable OP Units from limited partners. The following table presents BXP’s dividends per share and BPLP’s distributions per OP Unit and LTIP Unit paid or declared in 2025 and during the six months ended June 30, 2024:
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