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National Storage Affiliates prices stock offering for $94.5M in proceeds

National Storage Affiliates Trust's public offering of 4.5 million common shares of beneficial interest priced for estimated gross proceeds of roughly $94.5 million.

The offering, set to close on or about Dec. 16, carries a 30-day underwriters' option to buy up to 675,000 additional common shares.

National Storage Affiliates will apply the net proceeds to repay amounts outstanding under its revolving line of credit and for general corporate purposes.

Jefferies LLC and Morgan Stanley & Co. LLC are the joint book-running managers.