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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:43 AM

Slide #24. Plymouth Industrial REIT, Inc. Preferred Stock Offering

Company: Plymouth Industrial REIT, Inc.
Date announced: 10/16/2017
Shares Offered: 1,800,000
Date of Pricing: 10/18/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Plymouth Industrial REIT, Inc. (NYSE American:PLYM) (the "Company") today announced the commencement of a proposed underwritten public offering of 1,800,000 shares of its Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share ("Series A Preferred Stock"), subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase up to 270,000 additional shares of Series A Preferred Stock to cover over-allotments, if any. The Company has applied to list the shares of Series A Preferred Stock on the NYSE American under the symbol "PLYM-PrA" and, if the application is approved, trading is expected to begin within 30 days after the initial delivery of the shares of Series A Preferred Stock. -updated 10/18- Plymouth Industrial REIT, Inc. (NYSE American:PLYM) (the "Company") today announced the pricing of its underwritten public offering of 1,800,000 shares of its 7.50% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share ("Series A Preferred Stock), resulting in gross proceeds of $45.0 million, before deducting underwriting discounts and estimated offering expenses payable by the Company. The Series A Preferred Stock has a liquidation preference of $25.00 per share. The offering is expected to close on October 25, 2017, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to 270,000 additional shares of Series A Preferred Stock at the public offering price to cover over-allotments, if any. The Company will contribute the net proceeds from the offering to Plymouth Industrial OP, LP, the Company's operating partnership, which intends to use $5.0 million of the net proceeds to conduct a privately negotiated repurchase of 263,158 shares of the Company's common stock from Torchlight Investors, LLC ("Torchlight"), which were issued to Torchlight in a private placement concurrently with the closing of the Company's initial listed public offering, and the remainder of the net proceeds for general corporate purposes, which may include funding new acquisitions. The Company has applied to list the Series A Preferred Stock on the NYSE American under the symbol "PLYM-PrA." If the application is approved, the Company expects trading to commence within 30 days after initial delivery of the shares of Series A Preferred Stock.

Plymouth Industrial REIT, Inc.: trading symbol

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