Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, September 21, 11:00 AM
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Slide #2. Rexford Industrial Realty, Inc. — Preferred Stock Offering
Rexford Industrial Realty, Inc. (NYSE:REXR)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced the pricing of an underwritten public offering of 3,000,000 shares of 5.625% Series C Cumulative Redeemable Preferred Stock, for gross proceeds of approximately $75,000,000, before deducting the underwriting discount and estimated offering expenses. The Company has granted the underwriters of the offering a thirty day option to purchase up to 450,000 additional shares of 5.625% Series C Cumulative Redeemable Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on September 20, 2019, subject to customary closing conditions. The Company intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "REXR Pr C."
Rexford Industrial Realty is a holding company and a self-administered and self-managed real estate investment trust. Through its controlling interest in its sole general partner, Rexford Industrial Realty, L.P. and its subsidiaries, Co. owns, manages, leases, acquires and develops industrial real estate primarily located in Southern California infill markets.
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Buy (3.33 out of 4)
(ranked higher than approx. 56% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com