DCT Industrial Trust® Announces Closing of Public Offering of Common Stock

Before you go, we thought you'd like these...
Before you go close icon

DCT Industrial Trust® Announces Closing of Public Offering of Common Stock

DENVER--(BUSINESS WIRE)-- DCT Industrial Trust Inc.® (NYS: DCT) , a leading industrial real estate company, announced today that it closed its previously announced public offering of common stock. The Company sold a total of 23,000,000 shares of common stock in the offering, which included the full exercise of the underwriters' option to purchase additional shares. The net proceeds to the Company from the offering, after underwriting discounts and commissions and estimated offering expenses, are approximately $158.2 million. The Company intends to use the net proceeds received from this offering for future acquisitions, development activities, repayment of amounts outstanding under its senior unsecured revolving credit facility, general corporate purposes, or a combination of the foregoing.

BofA Merrill Lynch, J.P. Morgan, Citigroup and Jefferies acted as the joint book-running managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Copies of the prospectus supplement and accompanying prospectus relating to these securities, when available, may be obtained from:

BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, New York 10038 or by email at dg.prospectus_requests@baml.com; or

J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204.

About DCT Industrial Trust®

DCT Industrial Trust Inc. is a leading industrial real estate company specializing in the acquisition, development, leasing and management of bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of June 30, 2013, the Company owned interests in approximately 74.9 million square feet of properties leased to approximately 870 customers, including 12.3 million square feet operated on behalf of four institutional capital management partners.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and could materially affect actual results, performance or achievements. The application of the net proceeds of the offering is subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to us, including, without limitation, market conditions, and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Click here to subscribe to Mobile Alerts for DCT Industrial.


DCT Industrial Trust Inc.
Melissa Sachs, +1-303-597-2400

KEYWORDS:   United States  North America  Colorado


The article DCT Industrial Trust® Announces Closing of Public Offering of Common Stock originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

People are Reading