Global Self Storage Group (SELF) Priced a 1.1M Shares Offering at $5.35/sh

June 23, 2021 5:08 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Global Self Storage, Inc. (NASDAQ: SELF) ("Global Self Storage" or the "Company"), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties, has priced an underwritten public offering of 1,121,496 shares of its common stock at a public offering price of $5.35 per share, for gross proceeds to the Company of approximately $6.0 million, before deducting the underwriting discount and other offering expenses payable by the Company.

EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book-running manager for the offering.

The offering is expected to close on or about June 25, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 168,224 shares of its common stock on the same terms and conditions.

Global Self Storage intends to use the net proceeds it receives from the offering to fund acquisitions of self storage properties and/or expansions of the Company's existing self storage properties, to fund joint ventures with third parties for the acquisition and expansion of self storage properties, and for working capital and general corporate purposes.

The shares of common stock described above are being offered by Global Self Storage pursuant to a "shelf" registration statement on Form S-3 (File No. 333-227879) that became effective with the Securities and Exchange Commission (the "SEC") on December 7, 2018, the accompanying prospectus contained therein, and a preliminary a prospectus supplement.

The preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and this offering.

Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC's website at or by contacting EF Hutton, division of Benchmark Investments, LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at, or by telephone at (212) 404-7002.

A final prospectus supplement and the accompanying prospectus describing the final terms of the offering will be filed with the SEC and, when available, may be obtained by accessing the SEC's website or by contacting EF Hutton, division of Benchmark Investments, LLC at the phone number and email address listed in the previous sentence.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Equity Offerings

Related Entities

Dividend, S3, Earnings, Definitive Agreement