STAG Industrial, Inc. (STAG) said Tuesday that it has commenced an underwritten public offering of 5 million shares of its common stock.
The company plans to grant the underwriters of the offering a 30-day option to purchase up to an additional 750,000 shares of common stock.
The company said it 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.
RBC Capital Markets, BofA Merrill Lynch and Wells Fargo Securities will serve as the joint book-running managers for the offering.
For comments and feedback: editorial@rttnews.com