First Industrial Realty Trust announces pricing of 8.4 million shares of common stock at US$12.15/share
June 1, 2011
– First Industrial Realty Trust, Inc. (NYSE: FR) ("First Industrial" or the "Company") today announced the pricing of its underwritten public offering of 8,400,000 shares of its common stock at a price to public of $12.15. The last reported sales price of the Company's common stock on the New York Stock Exchange on May 31, 2011 was $12.58.
First Industrial will receive approximately $100 million of net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the proceeds for general corporate purposes, which may include repayments or repurchases of debt and acquisition and/or development of properties. Completion of the offering is subject to customary closing conditions.
UBS Securities LLC is acting as the sole book-running manager for the common stock offering.
The shares of common stock are being offered under the Company's existing shelf registration statement. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. Copies of the prospectus supplement, when available, and the accompanying prospectus relating to these securities may be obtained without charge from UBS Securities LLC, by mail at Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or by telephone at 1-888-827-7275. A copy of the prospectus supplement and accompanying base prospectus may also be obtained without charge by visiting the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any state 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 First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading owner and operator of industrial real estate and provider of supply chain solutions to multinational corporations and regional customers. Across major markets in North America, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. We have a track record of industry leading customer service, and in total, we own, manage and have under development 73 million square feet of industrial space. For more information, please visit us at www.firstindustrial.com. We post or otherwise make available on this website from time to time information that may be of interest to investors.