Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Firm”) as we speak introduced the issuance of 1,125,000 shares of widespread inventory pursuant to the total train of the underwriters’ choice to buy further shares within the Firm’s beforehand introduced public providing of widespread inventory. The Firm bought an mixture of eight,625,000 shares of widespread inventory within the providing at a public providing value of $12.85 per share, leading to web proceeds to the Firm of roughly $104.eight million, after deducting underwriting commissions and providing bills payable by the Firm. Plymouth intends to make use of the web proceeds from this providing to fund acquisitions, together with sure industrial properties underneath contract, and for working capital and different basic functions, together with to repay excellent indebtedness underneath its revolving credit score facility.
Barclays, KeyBanc Capital Markets, BMO Capital Markets and J.P. Morgan acted as joint book-running managers for the providing. Baird, D.A. Davidson, Capital One Securities, Piper Sandler, Nationwide Securities Company and Wedbush Securities acted as co-managers for the providing.
The shares have been supplied pursuant to an efficient shelf registration assertion on Type S-Three filed with the Securities and Change Fee. A replica of the preliminary prospectus complement referring to this providing was filed with the Securities and Change Fee on August 18, 2020, and a ultimate prospectus complement referring to the providing was filed with the Securities and Change Fee on August 19, 2020. Copies of the ultimate prospectus complement and accompanying prospectus referring to the providing could also be obtained by contacting Barclays, c/o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, New York 11717, phone: 1-888-603-5847 or by emailing firstname.lastname@example.org; KeyBanc Capital Markets Inc., Consideration: Fairness Syndicate, 127 Public Sq., 4th Flooring, Cleveland, Ohio 44114, or by phone at (800) 859-1783; BMO Capital Markets, Three Occasions Sq., 25th Flooring, New York, NY 10036, Consideration: Syndicate Division, Phone: (800) 414-3627, or by e-mail at email@example.com; and J.P. Morgan Securities LLC, c/o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, NY 11717, or by calling toll-free at (866) 803-9204.
This press launch shall not represent a suggestion to promote or a solicitation to purchase these securities, nor shall there be any sale of those securities in any state or different jurisdiction by which such supply, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.
Plymouth Industrial REIT, Inc. is a vertically built-in and self-managed actual property funding belief centered on the acquisition and operation of single and multi-tenant industrial properties positioned in secondary and choose main markets throughout america. The Firm seeks to accumulate properties that present earnings and development that allow the Firm to leverage its actual property working experience to boost shareholder worth by means of energetic asset administration, prudent property re-positioning and disciplined capital deployment.
This press launch consists of “forward-looking statements” which might be made pursuant to the secure harbor provisions of Part 27A of the Securities Act of 1933 and of Part 21E of the Securities Change Act of 1934. The forward-looking statements on this launch don’t represent ensures of future efficiency. Traders are cautioned that statements on this press launch, which aren’t strictly historic statements, together with, with out limitation, statements concerning the anticipated use of proceeds, represent forward-looking statements. Such forward-looking statements are topic to various identified and unknown dangers and uncertainties that would trigger precise outcomes to vary materially from these anticipated by the forward-looking assertion, lots of which can be past our management. Ahead-looking statements usually might be recognized by way of forward-looking terminology similar to “could,” “plan,” “search,” “will,” “count on,” “intend,” “estimate,” “anticipate,” “imagine” or “proceed” or the unfavourable thereof or variations thereon or comparable terminology. Any forward-looking data offered herein is made solely as of the date of this press launch, and we don’t undertake any obligation to replace or revise any forward-looking data to replicate modifications in assumptions, the incidence of unanticipated occasions, or in any other case.