NSA sets July 22 closing for Public Storage acquisition

National Storage Affiliates Trust (NYSE: NSA) said it expects its acquisition by Public Storage to close on or about July 22, 2026, following a special shareholder meeting scheduled for July 14, 2026. The transaction remains subject to common shareholder approval and other customary closing conditions, according to a press release from the company.

NSA's board of trustees declared a special prorated cash dividend of $0.0336 per common share for the period from July 1 through July 21, 2026. The dividend is payable immediately before the transaction closes to holders of record at the close of business on July 21, 2026, contingent on shareholder approval and satisfaction of other closing conditions.

The New York Stock Exchange has advised that NSA common shares will trade with "due bills" during the period from the July 21 record date through the last day of trading on the NYSE. Shareholders who sell their shares during this period will transfer their right to receive the dividend to the buyer. NSA stated it has no obligation for either the amount of the due bill or its processing.

If the closing is delayed past July 22, 2026, the dividend will not be paid on that date and NSA said it will issue a public announcement with further updates.

Under the terms of the merger agreement, NSA common shareholders will receive 0.14 of a Public Storage common share for each NSA share held immediately prior to the transaction's effective time. NSA OP unit holders will receive 0.14 of a Public Storage operating partnership unit for each NSA OP unit held.

NSA also confirmed that holders of a majority of outstanding NSA OP units consented to the transaction through a separate consent solicitation, leaving common shareholder approval as the only remaining equity holder condition required to complete the deal.

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