INDUS Realty Trust, Inc. (INDT) 1.75M Share Common Offering at $60/Sh
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INDUS Realty Trust, Inc. (NASDAQ: INDT) today announced the pricing of its public offering of 1,750,000 shares of its common stock at a price to the public of $60.00 per share. The underwriters also have been granted a 30-day option to purchase up to an additional 262,500 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 March 3, 2021 on the Nasdaq Stock Market LLC under the ticker symbol “INDT,” and the closing of the offering is expected to occur on March 5, 2021, subject to satisfaction of customary closing conditions.
INDUS intends to use the net proceeds from the proposed offering to finance its development pipeline and acquisitions and for other corporate purposes.
Morgan Stanley and Citigroup are acting as co-lead joint book-running managers for the offering. Baird is acting as bookrunner and BTIG, JMP Securities and J.P. Morgan are acting as co-managers for the offering.
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