Monmouth Real Estate to price public sale of 7 million common shares

Company offers 7 million shares through BMO Capital and JPMorgan

By Devika Patel

Knoxville, Tenn., May 19 - Monmouth Real Estate Investment Corp. said it will sell 7 million common shares in a public offering with a greenshoe of 1.05 million shares.

BMO Capital Markets Corp. and J.P. Morgan Securities LLC are the joint bookrunning managers. Wunderlich Securities, D.A. Davidson & Co. and CSCA are the co-managers.

Proceeds will be used to repay debt under the company's unsecured revolving credit facility, to purchase properties and expand existing properties and for general corporate purposes.

Monmouth is a real estate investment trust based in Freehold, N.J., with a concentration on net-leased industrial policies.

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