Extra Space Launches Public Offering of Common Stock
|Copyright 2014 by Virgo Publishing.|
|Posted on: 09/22/2006|
This week, Extra Space Storage Inc. offered 10.5 million shares of its common stock in a public offering at $17 per share. Underwriters also fully exercised their over-allotment option to purchase an additional 1.6 million shares from the company on a pro-rata basis.
In the end, Extra Space will have sold more than 12 million shares of stock for gross proceeds of $205.3 million. Net proceeds, after deducting underwriting discounts and commissions as well as offering expenses payable by the company, will be approximately $195 million. The company intends to use the funds for debt repayment, property acquisitions and general business purposes.
UBS Investment Bank and Banc of America Securities LLC served as joint book-running managers for the offering. Interested parties may obtain a final prospectus by writing to one of the following addresses:
UBS Investment Bank
Banc of America Securities
They can also call UBS at 212.821.3000, or send an e-mail to email@example.com.