Cold storage REIT Americold Realty Trust sets terms for $360 million IPO
Americold Realty Trust, a REIT with the top global share in temperature-controlled storage, announced terms for its IPO on Tuesday. The company also added Rabo Securities, Baird, Citizens Capital Markets, Raymond James, SunTrust Robinson Humphrey, BB&T Capital Markets and BTIG as co-managers on the deal.
The Atlanta, GA-based company plans to raise $360 million by offering 24 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Americold Realty Trust would command a fully diluted market value of $2.0 billion.
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. It is expected to price during the week of January 15, 2018.
The article Cold storage REIT Americold Realty Trust sets terms for $360 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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