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Rexford Industrial prices common stock offering

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Rexford Industrial prices common stock offering

RexfordIndustrial Realty Inc. priced its underwritten public offering of9.0 million common shares at $17.65 apiece, according to an April 11 newsrelease.

The company expects to net $152.2 million from the offering,which will be injected to its operating partnership. In turn, the partnershipintends to use the proceeds to repay outstanding amounts under its unsecuredrevolving credit facility; fund potential acquisitions, including a roughly$191.0 million dealto acquire a private REIT; for general corporate purposes; or a combinationthereof.

Underwriters were given a 30-day option to buy up to anadditional 1,350,000 common shares. Settlement of the offering is subject tocustomary closing conditions and is expected to occur on April 15.

BofA Merrill Lynch, Citigroup, Wells Fargo Securities, J.P.Morgan and Jefferies are acting as joint book runners of the offering.