Rexford Industrial Realty Inc. Prices Public Offering - Quick Facts

(RTTNews) - Rexford Industrial Realty Inc. (REXR) announced the pricing of public offering of 16 million shares of its common stock at a public offering price of $14.00 per share. The company's common stock is expected to begin trading on July 19, 2013 on the New York Stock Exchange under the symbol, REXR. The offering is expected to close on July 24, 2013.

The company has granted the underwriters a 30-day option to purchase up to an additional 2.4 million shares of common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any.

Rexford Industrial Realty estimates the net proceeds to be approximately $202.8 million after deducting underwriting discounts and commissions and estimated offering expenses, prior to any exercise of the underwriters' over-allotment option.

The company intends to use the net proceeds from the offering to repay indebtedness, fund certain formation transaction costs, fund pending acquisitions and for general corporate and working capital purposes, including future acquisitions.