Terreno Realty upsizes public stock offering to 5.5 million shares By Investing.com

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© Reuters.

BELLEVUE, Wash. – Terreno Realty Corporation (NYSE: ), a company that buys, owns, and operates industrial real estate in major US coastal markets, has increased its public offering to 5,500,000 shares of common stock, priced at $62.00 each. . The offering, initially set at 5,000,000 shares, is expected to close on March 27, 2024, subject to customary closing conditions.

Underwriters under this offering will be granted a 30-day option to purchase up to an additional 825,000 shares. Goldman Sachs & Co (NYSE: ). LLC and KeyBanc Capital Markets Inc. and those responsible for the delivery process.

Terreno Realty intends to use all proceeds from this donation to support various initiatives. This includes the acquisition of an industrial complex, consisting of 28 buildings totaling 1,245,000 square feet, located across New York City, Northern New Jersey, the San Francisco Bay Area, and Los Angeles.

In addition, the money will be given to find other places that are currently being bought and sold under contracts or letters of intent, financial support and renovation projects, and corporate purposes.

The offering is being made pursuant to a shelf registration statement issued by the Securities and Exchange Commission (SEC). Supplements and information regarding the offering will be available on the SEC’s website or directly from the underwriters.

This announcement does not constitute a sale or solicitation of an offer to purchase any securities, and there will be no sale of securities in any state or jurisdiction where the sale, solicitation, or sale would not be permitted prior to registration or qualification under the securities laws of that state or jurisdiction.

Terreno Realty Corporation operates in several major US markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC’s top industrial districts.

Information contained in this article is based on information released by Terreno Realty Corporation.

This article was created with the help of AI and reviewed by an editor. For more information see our T&C.

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