By Sheri Kasprzak
Atlanta, June 21 - Extra Space Storage Inc. said it has received agreements for an $83,514,000 private placement.
The company sold 6.2 million shares at $13.47 each to new and existing institutional investors.
The offering is expected to close June 24.
Based in Salt Lake City, Extra Space operates self-storage facilities. The proceeds will be used to partially fund its acquisition of Storage USA's portfolio of self-storage properties. The remainder will be used for general corporate purposes.
| Issuer: | Extra Space Storage Inc.
|
| Issue: | Stock
|
| Amount: | $83,514,000
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| Shares: | 6.2 million
|
| Price: | $13.47
|
| Warrants: | No
|
| Announcement date: | June 21
|
| Settlement date: | June 24
|
| Stock price: | $13.80 at close June 20
|
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