LOS ANGELES--(BUSINESS WIRE)--
Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial")
(NYSE:REXR), a real estate investment trust focused on owning and
operating industrial properties located in Southern California infill
markets, today announced the pricing of an underwritten public offering
of 15,000,000 shares of its common stock at a public offering price of
$13.50 per share, for net proceeds of approximately $193.4 million after
deducting the underwriting discount and estimated offering expenses. The
Company has granted the underwriters a 30-day option to purchase up to
an additional 2,250,000 shares of its common stock. Settlement of the
offering is subject to customary closing conditions and is expected to
occur on August 19, 2014.
The Company intends to contribute the net proceeds from this offering to
its operating partnership, which will use the net proceeds from the
offering to repay indebtedness, fund potential acquisition opportunities
and for general corporate purposes.
BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities, Citigroup and
Jefferies are acting as joint book-running managers of the offering and
Piper Jaffray is acting as a co-manager.
The offering was made pursuant to an effective shelf registration
statement and prospectus and related prospectus supplement filed by the
Company with the Securities and Exchange Commission. 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
jurisdiction in which such offer, solicitation or sale would be unlawful.
Copies of the prospectus supplement and related prospectus for the
offering can be obtained from: BofA Merrill Lynch, 222 Broadway, New
York, New York 10038, Attention: Prospectus Department or email firstname.lastname@example.org;
J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, or by telephone (866)
803-9204; Wells Fargo Securities, Attention: Equity Syndicate Dept. 375
Park Avenue New York, New York 10152: Email: email@example.com;
Phone: (800) 326-5897; Citigroup, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, or by telephone (800)
831-9146; or Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022:
Phone: 1-877-547-6340 .
About Rexford Industrial
Rexford Industrial is a real estate investment trust focused on owning
and operating industrial properties in Southern California infill
markets. The Company owns interests in 88 properties with approximately
9.5 million rentable square feet and manages an additional 20 properties
with approximately 1.2 million rentable square feet.
Forward Looking Statements:
This press release may contain forward-looking statements within the
meaning of the federal securities laws, which are based on current
expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to differ
materially. Forward-looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or trends
and similar expressions concerning matters that are not historical
facts. In some cases, you can identify forward-looking statements by the
use of forward-looking terminology such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "estimates,"
"predicts," or "potential" or the negative of these words and phrases or
similar words or phrases which are predictions of or indicate future
events or trends and which do not relate solely to historical matters.
While forward-looking statements reflect the Company's good faith
beliefs, assumptions and expectations, they are not guarantees of future
performance. For a further discussion of these and other factors that
could cause the Company's future results to differ materially from any
forward-looking statements, see the reports and other filings by the
Company with the U.S. Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K for the year ended December 31,
2013. The Company disclaims any obligation to publicly update or revise
any forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes.
Source: Rexford Industrial Realty, Inc.