Terreno Realty Corporation Announces Public Offering of Series A Cumulative Redeemable Preferred Stock
Terreno Realty Corporation (NYSE: TRNO) today announced that it plans to sell shares of its Series A Cumulative Redeemable Preferred Stock in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission. The underwriters will be granted a 30-day option to purchase additional shares of Series A Preferred Stock. The Company intends to apply to list the Series A Preferred Stock on the New York Stock Exchange under the symbol “TRNOPrA.”
The Company intends to use the net proceeds from the offering to reduce outstanding borrowings under its revolving credit facility.
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