Prologis, Inc. (NYSE: PLD) announced the commencement of an underwritten public offering of 15,000,000 shares of its common stock, with J.P. Morgan and BofA Securities acting as underwriters.

The company expects to grant underwriters a 30-day option to purchase up to an additional 2,250,000 shares to cover any overallotments, bringing the potential total to 17,250,000 shares.

Prologis said it intends to contribute the net proceeds to its operating partnership for general corporate purposes, including to fund potential acquisitions such as SEGRO plc. The company noted there is no assurance the SEGRO combination will be completed on the proposed terms, on the anticipated timeline, or at all.

The shares will be offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus are expected to be filed with the SEC.