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STAG Industrial closes common stock offering

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STAG Industrial closes common stock offering

STAG Industrial Inc. and its operating partnership STAG Industrial Operating Partnership LP closed a public offering of 10,062,500 common shares priced at $30.9022 apiece on Jan. 16.

The offering comprised 5.6 million shares offered directly by the industrial real estate investment trust and 4,462,500 shares offered under certain forward-sales agreements, including the underwriters' full exercise of an option to buy 1,312,500 additional shares.

The company earlier said it planned to use the net proceeds to fund acquisitions, to repay outstanding debt under its $500 million unsecured credit facility, and for working capital and other general purposes.