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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Industrial Logistics Properties Trust | NASDAQ:ILPT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.145 | -3.32% | 4.225 | 4.22 | 4.23 | 4.38 | 4.14 | 4.30 | 338,329 | 20:23:07 |
Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it has priced an initial public offering of 20,000,000 common shares of beneficial interest at $24.00 per share.
The settlement of this offering is expected to occur on January 17, 2018. The underwriters have a 30 day option to purchase up to an additional 3,000,000 shares to cover overallotments, if any. All the shares are being offered by ILPT. ILPT intends to set aside approximately $2 million of the net proceeds from the offering for working capital and use the balance of such proceeds to reduce the amount outstanding under its credit facility.
A registration statement relating to the offering of the common shares of beneficial interest of ILPT discussed above was declared effective by the Securities and Exchange Commission on January 11, 2018. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
UBS Investment Bank, Citigroup, RBC Capital Markets, BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities are the joint book running managers for the offering. B. Riley | FBR, BB&T Capital Markets, Janney Montgomery Scott, JMP Securities and Oppenheimer & Co. are the co-managers for the offering.
A copy of the prospectus related to the offering can be obtained, when available, by contacting the offices of: UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275, email: ol-prospectus-request@ubs.com; Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146, email: batprospectusdept@citi.com; RBC Capital Markets, LLC, Attn: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, telephone: (877) 822-4089, email: equityprospectus@rbccm.com; BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department,180 Varick Street, 2nd Floor, New York, NY 10014; or Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, email: cmclientsupport@wellsfargo.com.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON ILPT’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR EXAMPLE:
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180111006245/en/
Industrial Logistics Properties TrustOlivia Snyder, 617-219-1489Manager, Investor Relations
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