Stag Industrial Inc. (STAG: Quote) Monday said it began offering of 7.25 million common shares. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 1.1 million shares to cover overallotments, if any.
Stag plans to use the proceeds to fund acquisitions currently under contract as well as to fund future acquisitions, repay indebtedness outstanding under its secured corporate revolving credit facility.
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by RTT Staff Writer
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