(RTTNews) - On Tuesday, Prologis, Inc. (PLD), a self-administered real estate company, announced the commencement of an underwritten public offering of 15 million shares of its common stock.
J.P. Morgan and BofA Securities are acting as the underwriters for the offering.
Further, the company intends to grant the underwriters a 30-day option, exercisable in whole or in part from time to time, to purchase up to an additional 2.25 million shares of the Company's common stock solely to cover overallotments in connection with the offering.
The Company intends to contribute the net proceeds from this offering to its operating partnership for general corporate purposes, including potential acquisitions such as SEGRO Plc.
In the pre-market activity on the NYSE, the shares were trading 2.42 percent down at $140.68 after closing Monday's trading 0.32 percent lower.
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