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, announced today that it has commenced a public offering of 10,000,000 shares of its common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less the underwriting discount.
The Company intends to contribute the net proceeds from this offering to its operating partnership, which will use the net proceeds from this offering to repay amounts outstanding under its unsecured revolving credit facility, fund potential acquisition opportunities and/or for general corporate purposes.
BofA Merrill Lynch, Citigroup, J.P. Morgan, Wells Fargo Securities and Jefferies are acting as joint book-runners of this offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering of these securities is being made pursuant to a prospectus supplement to the Company's prospectus, dated January 28, 2015, filed as part of the Company’s effective shelf registration statement relating to these securities.
Copies of the prospectus supplement and related prospectus for this offering can be obtained from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department or email email@example.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone (800) 831-9146; 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: firstname.lastname@example.org; Phone: (800) 326-5897; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022: Email: Prospectus_Department@Jefferies.com; Phone: 1-877-547-6340.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction.
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 101 properties with approximately 10.0 million rentable square feet. The Company also owns a 15% interest in a joint venture that indirectly owns one property with approximately 0.5 million square feet, which the Company manages. In addition, the Company manages an additional 19 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 example, the fact that the offering described above has launched may imply that the offering will price and close, but both pricing and closing are subject to conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the fact that the Company expects to grant the underwriters an option to purchase additional shares may imply that this option will be exercised. However, the underwriters will not be under any obligation to exercise any such option, or any portion of it, and they may not do so. For a further discussion of the 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.