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Terreno Realty Corporation Announces Public Offering Of Series A Cumulative Redeemable Preferred Stock

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.

Stock quotes in this article: TRNO 

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