Rexford Industrial Realty Prices Offering Of 15 Mln Shares At $13.50/shr

(RTTNews) - Rexford Industrial Realty Inc. (REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, announced that it has priced an underwritten public offering of 15 million shares of its common stock at a public offering price of $13.50 per share, for net proceeds of approximately $193.4 million after deducting the underwriting discount and estimated offering expenses.

The company stated that it has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of its common stock. Settlement of the offering is subject to customary closing conditions and is expected to occur on August 19, 2014.

The company noted that it intends to contribute the net proceeds from this offering to its operating partnership, which will use the net proceeds from the offering to repay indebtedness, fund potential acquisition opportunities and for general corporate purposes.BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities, Citigroup and Jefferies are acting as joint book-running managers of the offering and Piper Jaffray is acting as a co-manager.