INDUS Announces Pricing of Public Offering of Common Stock
March 02 2021 - 7:00PM
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”) today announced the pricing of its public
offering of 1,750,000 shares of its common stock at a price to the
public of $60.00 per share. The underwriters also have been granted
a 30-day option to purchase up to an additional 262,500 shares of
common stock from INDUS at the public offering price, less
underwriting discounts and commissions. The newly issued shares of
common stock are expected to begin trading on March 3, 2021 on the
Nasdaq Stock Market LLC under the ticker symbol “INDT,” and the
closing of the offering is expected to occur on March 5, 2021,
subject to satisfaction of customary closing conditions.
INDUS intends to use the net proceeds from the
proposed offering to finance its development pipeline and
acquisitions and for other corporate purposes.
Morgan Stanley and Citigroup are acting as
co-lead joint book-running managers for the offering. Baird is
acting as bookrunner and BTIG, JMP Securities and J.P. Morgan are
acting as co-managers for the offering.
The offering of these securities is being made
pursuant to an effective shelf registration statement on
Form S-3 filed with the Securities and Exchange Commission
(“SEC”). A preliminary prospectus supplement and accompanying
prospectus relating to the offering has been filed with the SEC and
is available on the SEC’s website. Copies of the prospectus
supplement and the accompanying prospectus, when available, may be
obtained from Morgan Stanley, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014; or Citigroup,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at 800-831-9146 or by email at
prospectus@citi.com; or by visiting the EDGAR database on the SEC’s
website at www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities, 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 the registration or qualification under
the securities laws of any such state or jurisdiction.
Forward-Looking Statements:
This Press Release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. These
forward-looking statements, including relating to the completion of
the proposed offering on the date and terms described, if at all,
and INDUS’s intended use of the net proceeds from the proposed
offering, are based upon the Company’s present expectations, but
the events described in these statements are not guaranteed to
occur. These forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the “Risk Factors” section in INDUS’s
Annual Report on Form 10-K for the fiscal year ended November 30,
2020 filed with the SEC on February 18, 2021. INDUS disclaims any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release except
as required by law. Investors should not place undue reliance upon
forward-looking statements.
CONTACT:Anthony
GaliciChief Financial
Officer(860) 286-1307
agalici@indusrt.com
Ashley PizzoDirector, IR & Capital
Markets(212)
218-7914apizzo@indusrt.com
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