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First Industrial launches 5.6 million-share common stock offering

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First Industrial launches 5.6 million-share common stock offering

First IndustrialRealty Trust Inc. has launched an underwritten public offering of 5.6million shares of common stock.

Based on the company's March 29 closing price of $22.94 per share,the offering represents gross proceeds of $128.5 million.

The company said March 30 that it intends to use the proceedsfor general corporate purposes, possibly including property acquisitions and/ordevelopment, as well as debt repayment.

BofA Merrill Lynch and Wells Fargo Securities are acting as thebook-running managers for the offering.