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Plymouth Industrial launches follow-on public offering

Plymouth Industrial REIT Inc. is set to issue 4,250,000 shares of its common stock under an underwritten registered public offering.

The industrial real estate investment trust also plans to offer underwriters a 30-day option to buy up to 637,500 additional shares to cover any overallotments.

Net proceeds are intended for the repayment of the company's outstanding debt, financing of future acquisitions and for general corporate and working capital purposes.

The offering's joint book-running managers are Sandler O'Neill + Partners LP and D.A. Davidson & Co., while BB&T Capital Markets, National Securities Corp. and American Capital Partners LLC are serving as co-lead managers.