CubeSmart signed new deals for the sale of up to 11,614,282 common shares of beneficial interest of the company in at-the-market offerings from time to time.
The self-storage real estate investment trust said it aims to funnel any net proceeds to its operating partnership in exchange for operating partnership units. The operating partnership, in turn, plans to use the funds for general business purposes, including outstanding debt repayment, store acquisitions, developments, joint ventures, CapEx and working capital.
CubeSmart said it sold 38,385,718 common shares under the previous distribution deals.
The sales agents under the new deals are Wells Fargo Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., BMO Capital Markets Corp., Jefferies LLC, RBC Capital Markets LLC and Barclays Capital Inc.