STAG Industrial prices common stock offering

STAG Industrial Inc. priced its public offering of 8.0 million common shares for gross proceeds of nearly $340.0 million.

The industrial real estate investment trust granted the underwriters a 30-day option to buy up to 1.2 million additional shares.

The offering contains 5,250,000 shares to be sold directly by the company and 2,750,000 shares to be issued under a forward sale agreement with BofA Securities or its affiliate as forward purchaser.

The offering, which is subject to customary closing conditions, is expected to close Nov. 8.

The company plans to use the net proceeds to fund acquisitions, to repay debt outstanding under the company's unsecured credit facility and for working capital and other general corporate purposes.

BofA Securities, BMO Capital Markets and Wells Fargo Securities are acting as joint bookrunning managers for the offering.