Extra Space Storage poised to sell additional 5.2M shares
Extra Space Storage Inc., a Salt Lake City-based real estate investment trust that operates in the self-storage industry, said it intends to issue and sell 5.2 million shares of its stock in a public offering.
The company intends to use the proceeds of the offering to fund its acquisition of 28 properties that it wants to buy for $190.2 million and to repay a portion of its outstanding debt.
Citigroup will serve as the underwriter of the offering.
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