National Storage Affiliates Prices 8.8 Mln Shares Of Public Offering At $51.25/shr

(RTTNews) - Colorado-headquartered National Storage Affiliates Trust (NSA), a real estate investment trust focused on the ownership, operation and acquisition of self-storage properties on Wednesday announced $51.25 as the per-share price of its upsized underwritten public offering of 8,800,000 common shares aggregating to $451.0 million.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,320,000 common shares at the public offering price, less underwriting discounts. The offering is scheduled to be closed on or about July 23.

The Company intends to use the net proceeds from the offering to repay amounts outstanding under its revolving line of credit, on which the Company expects to redraw from time to time to invest in future acquisitions of self-storage properties, and for general corporate purposes.

Morgan Stanley, Citigroup and BofA Securities are acting as joint book-running managers for the offering. Jefferies and Wells Fargo Securities are acting as bookrunners. Capital One and KeyBanc Capital Markets are acting as joint lead managers and Baird, Stifel, and BTIG are acting as co-managers for the offering.

The shares of National Storage Affiliates Trust closed at $53.30 on July 20,2021, up $1.12 or 2.15 percent from previous close.