CubeSmart Offers Public 20,000,000 Common Shares for $9.20 Per Share

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CubeSmart, a self-storage real estate investment trust, is offering 20,000,000 common shares in an underwritten registered offering. The pricing for the common shares is $9.20 per share. Gross proceeds from the offering will be approximately $184 million, subject to customary closing conditions.

The company also plans to grant the underwriters a 30-day option to purchase up to an additional 3 million common shares to cover over-allotments, if any. Wells Fargo Securities and BofA Merrill Lynch are the joint book-running managers for the offering.

The company expects to use the net proceeds from the offering for a portion of the acquisition of 22 self-storage facilities from Storage Deluxe and for general corporate purposes.

The common shares will be offered under the company's existing effective shelf-registration statement filed with the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying prospectus.

A copy of the prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting Wells Fargo Securities LLC, Attention: Equity Syndicate Department, 375 Park Ave., New York, N.Y., 10152, at 800.326.5897 or e-mail a request to cmclientsupport@wellsfargo.com.

CubeSmart is a self-administered and self-managed real estate investment trust that owns or manages 456 facilities across the United States and operates the CubeSmart Network, which consists of approximately 838 additional self-storage facilities.

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