Self-Storage REIT CubeSmart Makes Public Offering of Common Shares
CubeSmart, a self-storage real estate investment trust (REIT), has commenced an underwritten public offering of 6,500,000 common shares of beneficial interest, par value $0.01 per share. Barclays and Jefferies LLC are acting as the joint book-running manager for the offering.
October 16, 2014
CubeSmart, a self-storage real estate investment trust (REIT), has commenced an underwritten public offering of 6,500,000 common shares of beneficial interest, par value $0.01 per share. Barclays and Jefferies LLC are acting as the joint book-running manager for the offering. The company will grant the underwriter a 30-day option to purchase up to an additional 975,000 shares. CubeSmart intends to use all of the net proceeds for general business purposes, including acquisitions, development, joint ventures, capital expenditures, working capital and others, according to a press release.
The offering will be made under CubeSmart's existing, automatic shelf-registration statement filed with the Securities and Exchange Commission on March 18. It will be made only by means of a prospectus and a related prospectus supplement, when available. The prospectus supplement related to this public offering and accompanying prospectus will be filed with the Securities and Exchange Commission. Copies may be obtained by contacting the book-running managers.
CubeSmart owns or manages 562 self-storage facilities across the United States and operates the CubeSmart Network, which consists of more than 800 additional self-storage facilities.
Sources:
You May Also Like