Plymouth Industrial REIT, a REIT owning interests in 20 industrial buildings in the Midwest and Eastern US, announced terms for its IPO on Thursday.
The Boston, MA-based company plans to raise $75 million by offering 3.8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Plymouth Industrial REIT would command a fully diluted market value of $89 million.
Plymouth Industrial REIT was founded in 2011 and booked $20 million in revenue for the 12 months ended March 31, 2017. It plans to list on the NYSE MKT under the symbol PLYM. D.A. Davidson, BB&T Capital Markets, Oppenheimer & Co., Janney Montgomery Scott, National Securities and Wedbush Securities are the joint bookrunners on the deal. It is expected to price during the week of June 5, 2017.
