Industrial Logistics Properties Trust Prices Initial Public Offering
January 11 2018 - 8:20PM
Business Wire
Industrial Logistics Properties Trust (Nasdaq: ILPT) today
announced that it has priced an initial public offering of
20,000,000 common shares of beneficial interest at $24.00 per
share.
The settlement of this offering is expected to occur on January
17, 2018. The underwriters have a 30 day option to purchase up to
an additional 3,000,000 shares to cover overallotments, if any. All
the shares are being offered by ILPT. ILPT intends to set aside
approximately $2 million of the net proceeds from the offering for
working capital and use the balance of such proceeds to reduce the
amount outstanding under its credit facility.
A registration statement relating to the offering of the common
shares of beneficial interest of ILPT discussed above was declared
effective by the Securities and Exchange Commission on January 11,
2018. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, 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 registration or
qualification under the securities laws of any such state or
jurisdiction.
UBS Investment Bank, Citigroup, RBC Capital Markets, BofA
Merrill Lynch, Morgan Stanley and Wells Fargo Securities are the
joint book running managers for the offering. B. Riley | FBR,
BB&T Capital Markets, Janney Montgomery Scott, JMP Securities
and Oppenheimer & Co. are the co-managers for the offering.
A copy of the prospectus related to the offering can be
obtained, when available, by contacting the offices of: UBS
Securities LLC, Attn: Prospectus Department, 1285 Avenue of the
Americas, New York, NY 10019, telephone: (888) 827-7275, email:
ol-prospectus-request@ubs.com; Citigroup Global Markets Inc. c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, telephone: (800) 831-9146, email:
batprospectusdept@citi.com; RBC Capital Markets, LLC, Attn: Equity
Syndicate, Three World Financial Center, 200 Vesey Street, 8th
Floor, New York, NY 10281, telephone: (877) 822-4089, email:
equityprospectus@rbccm.com; BofA Merrill Lynch, NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn:
Prospectus Department, email: dg.prospectus_requests@baml.com;
Morgan Stanley & Co. LLC, Attn: Prospectus Department,180
Varick Street, 2nd Floor, New York, NY 10014; or Wells Fargo
Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New
York, NY 10152, email: cmclientsupport@wellsfargo.com.
WARNING CONCERNING
FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON ILPT’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR
EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
SETTLEMENT OF THE OFFERING OF COMMON SHARES IS EXPECTED TO OCCUR ON
JANUARY 17, 2018. IN FACT, THE SETTLEMENT OF THIS OFFERING IS
SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN
UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS
ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS
OFFERING MAY NOT CLOSE.
- THIS PRESS RELEASE STATES THAT THE
UNDERWRITERS HAVE BEEN GRANTED AN OPTION TO PURCHASE UP TO AN
ADDITIONAL 3,000,000 COMMON SHARES TO COVER OVERALLOTMENTS, IF ANY.
AN IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE
EXERCISED IN WHOLE OR IN PART. THE UNDERWRITERS ARE NOT OBLIGATED
TO EXERCISE THIS OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO
PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
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version on businesswire.com: http://www.businesswire.com/news/home/20180111006245/en/
Industrial Logistics Properties TrustOlivia Snyder,
617-219-1489Manager, Investor Relations
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