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Americold Realty Trust adds insider selling ahead of tonight's IPO


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Americold Realty Trust, the world's largest cold-storage REIT backed by Yucaipa Companies, added insider selling ahead of tonight's IPO. 

The Atlanta, GA-based company now plans to raise $605 million by offering 40.3 million shares (40% insider) at a price range of $14 to $16, which increases the deal size by 68% from the $360 million (24 million primary shares; $14-16 range) originally planned. Most of the insider shares are coming from The Yucaipa Companies (selling 16% of its stake) and Goldman Sachs (selling 14% of its stake).

Americold Realty Trust was founded in 1910 and booked $1.5 billion in revenue for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol COLD. BofA Merrill Lynch, J.P. Morgan and RBC Capital Markets are the joint bookrunners on the deal.

The article Americold Realty Trust adds insider selling ahead of tonight's IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs




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