trending Market Intelligence /marketintelligence/en/news-insights/trending/6TuBw4xrF1ZREbeLhMT_pg2 content esgSubNav
In This List

STAG Industrial launches common stock offering

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


STAG Industrial launches common stock offering

STAG Industrial Inc. is selling 11.0 million common shares in a public offering and plans to grant the underwriters a 30-day option to buy up to 1,650,000 additional shares.

The industrial real estate investment trust said the offering comprises 5.5 million shares offered directly by the company and a similar number of shares offered on a forward basis under a forward sale agreement.

Based on the company's closing stock price of $29.70 per share on Sept. 24, gross proceeds, including the additional-share option, are expected to total approximately $375.7 million.

The REIT aims to use the net proceeds to fund acquisitions, to repay outstanding debt under its $500 million unsecured credit facility, for working capital and other general corporate purposes.

Citigroup and Raymond James will be the joint book-running managers for the offering.