Terreno Realty Corporation Announces Pricing of Public Offering of $40 Million 7.75% Series a Cumulative Redeemable Preferred
Terreno Realty Corporation (NYSE: TRNO) today announced the pricing of an underwritten public offering of 1,600,000 shares of its 7.75% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) at a price per share of $25.00 for gross proceeds of $40.0 million. The underwriters have been granted a 30-day option to purchase up to an additional 240,000 shares of Series A Preferred Stock. The Company estimates that the net proceeds from the offering, after deducting the underwriting discount and estimated offering expenses payable by the Company, will be approximately $38.5 million, or approximately $44.3 million if the underwriters' option to purchase additional shares is exercised in full.
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