Terreno Realty Corporation Prices Equity Offering
February 09 2023 - 11:45PM
Business Wire
Terreno Realty Corporation (NYSE: TRNO) (the “Company”), an
acquirer, owner and operator of industrial real estate in six major
coastal U.S. markets, announced today the pricing of its public
offering of 5,000,000 shares of its common stock at a price to the
public of $62.50 per share. The underwriters have been granted a
30-day option to purchase up to an additional 750,000 shares of
common stock. The offering is expected to close on February 13,
2023.
The Company intends to use the net proceeds from the offering
for future acquisitions, including the acquisition of a 121-acre
project that is subject to a purchase and sale agreement and is
entitled for 2.2 million square feet of industrial distribution
buildings in Miami’s Countyline Corporate Park and other properties
that are currently subject to purchase and sale agreements,
redevelopments and for other general corporate purposes.
Goldman Sachs & Co. LLC and KeyBanc Capital Markets Inc. are
serving as underwriters for the offering.
The offering of these securities is being made pursuant to an
effective shelf registration statement. The offering will be made
only by means of a prospectus and prospectus supplement. A copy of
the prospectus and prospectus supplement relating to these
securities may be obtained, when available, from the website of the
Securities and Exchange Commission or by contacting Goldman Sachs
& Co. LLC, Attn: Prospectus Department, 200 West Street, New
York, NY 10282, telephone: 1.866.471.2526, facsimile:
1.212.902.9316, email: prospectus-ny@ny.email.gs.com, or KeyBanc Capital
Markets Inc., Attn: Equity Syndicate, 127 Public Square, 7th Floor,
Cleveland, OH 44114, telephone: 1.800.859.1783.
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.
About the Company
Terreno Realty Corporation acquires, owns and operates
industrial real estate in six major coastal U.S. markets: Los
Angeles, Northern New Jersey/New York City, San Francisco Bay Area,
Seattle, Miami, and Washington, D.C.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. The Company cautions
investors that forward-looking statements are based on management’s
beliefs and on assumptions made by, and information currently
available to, management. When used, the words “anticipate”,
“believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”,
“project”, “result”, “should”, “will”, “seek”, “target”, “see”,
“likely”, “position”, “opportunity”, “outlook” and similar
expressions which do not relate solely to historical matters are
intended to identify forward-looking statements. These statements
are subject to risks, uncertainties, and assumptions and are not
guarantees of future performance, which may be affected by known
and unknown risks, trends, uncertainties, and factors that are
beyond the Company’s control. Factors that could materially affect
results of the Company include those risk factors contained in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2022, the Company’s preliminary prospectus supplement relating
to the offering under the section titled “Risk Factors”, and the
Company’s other public filings. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
anticipated, estimated, or projected. The Company expressly
disclaims any responsibility to update its forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by law. Accordingly, investors
should use caution in relying on past forward-looking statements,
which are based on results and trends at the time they are made, to
anticipate future results or trends.
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version on businesswire.com: https://www.businesswire.com/news/home/20230209005815/en/
Jaime Cannon 415-655-4580
Terreno Realty (NYSE:TRNO)
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