BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE MKT: PLYM) today announced the closing of the issuance of an additional 160,000 shares of its common stock at the initial public offering price of $19.00 per share, less the underwriting discount, pursuant to the exercise of the underwriters’ option to purchase additional shares to cover over-allotments in connection with the Company’s initial public offering. The closing brings the total number of shares issued by the Company in its initial public offering to 3,060,000 shares, for gross proceeds of approximately $58.1 million.
D.A. Davidson & Co., BB&T Capital Markets and Oppenheimer & Co., acted as joint book-running managers for the offering. National Securities Corporation and Wedbush Securities acted as the co-lead managers, and Janney Montgomery Scott acted as co-manager.
Plymouth is a full service, vertically integrated, self-administered and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant Class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.