Terreno Realty Corporation (the “Company”) (NYSE:TRNO), an acquirer, owner and operator of industrial real estate located in six major coastal U.S. markets, today announced that it plans to sell shares of its Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission. The underwriters will be granted a 30-day option to purchase additional shares of Series A Preferred Stock. The Company intends to apply to list the Series A Preferred Stock on the New York Stock Exchange under the symbol “TRNOPrA.”
The Company intends to use the net proceeds from the offering to reduce outstanding borrowings under its revolving credit facility.
Stifel, Nicolaus & Company, Incorporated is serving as sole book-running manager for the offering. Robert W. Baird & Co. Incorporated and KeyBanc Capital Markets Inc. are serving as joint lead managers and Mitsubishi UFJ Securities (USA), Inc. and JMP Securities LLC are serving as co-managers.
A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting Stifel, Nicolaus & Company, Incorporated, One South Street, 15th Floor, Baltimore, MD 21202, Attention: Syndicate Department or by telephone at (443) 224-1988.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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. Any offer or sale will be made only by means of the written prospectus supplement and the prospectus forming part of the effective registration statement. About the Company Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate located in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV