STAG Industrial, Inc. (STAG) said Wednesday that it has priced an underwritten public offering of common stock at a price to the public of $18.30 per share.
The size of the offering was upsized from 5 million shares to about 5.46 million shares.
The company has granted the underwriters of the offering a 30-day option to purchase up to an additional 819,672 shares of common stock.
The offering is expected to close on January 22.
The company plans to use the net proceeds of the offering to repay indebtedness outstanding under its unsecured corporate revolving credit facility, which indebtedness was used to fund recent acquisitions, to fund acquisitions currently under contract, for general working capital purposes, or a combination of the foregoing.
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