INDUS Announces Upsize and Pricing of Public Offering of Common Stock
October 05 2021 - 9:13PM
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”), a U.S. based industrial/logistics REIT, today
announced the upsize and pricing of its public offering of
2,150,000 shares of its common stock at a price to the public of
$66.00 per share. The underwriters also have been granted a 30-day
option to purchase up to an additional 322,500 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 October 6, 2021, on the Nasdaq
Stock Market LLC under the ticker symbol “INDT”, and the closing of
the offering is expected to occur on October 8, 2021, subject to
satisfaction of customary closing conditions.
INDUS intends to use the net proceeds from the
proposed offering to finance its acquisition and development
pipeline and for other corporate purposes.
Morgan Stanley and Citigroup are acting as lead
joint book-running managers for the offering. J.P. Morgan and Baird
are acting as bookrunners and BTIG, BMO Capital Markets and JMP
Securities 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; by email at
prospectus@citi.com; or by visiting the EDGAR database on the SEC’s
web site 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.
About INDUS
INDUS is a real estate business principally
engaged in developing, acquiring, managing and leasing
industrial/logistics properties. INDUS owns 43 buildings totaling
approximately 5.3 million square feet (including 33
industrial/logistics buildings aggregating approximately 4.9
million square feet) in Connecticut, Pennsylvania, North Carolina
and Florida in addition to over 3,100 acres of undeveloped
land.
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, and INDUS’s
Quarterly Report on Form 10-Q for the quarter ended June 30, 2021,
filed with the SEC on August 9, 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
GaliciExecutive Vice President, Chief Financial
Officer(860) 286-1307
agalici@indusrt.com
Ashley PizzoVice President, Capital
Markets & Investor Relations(212)
218-7914apizzo@indusrt.com
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