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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Oct. 24, 8:36 PM

Slide #10. CubeSmart Secondary Offering

Company: CubeSmart (NYSE:CUBE)
Date announced: 10/14/2014
Shares Offered: 6,500,000
Date of Pricing: 10/15/2014
Price Per Share: $19.33
Secondary Offering Details: CubeSmart (NYSE: CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, today announced that it has commenced an underwritten public offering of 6,500,000 common shares of beneficial interest, par value $0.01 per share ("Common Shares"). In connection with the offering, CubeSmart has granted the underwriters of the offering a 30-day option to purchase up to an additional 975,000 Common Shares. CubeSmart expects to use all of the net proceeds of the offering for general business purposes, including without limitation, facility acquisitions, developments, joint ventures, capital expenditures, working capital, and other general corporate purposes. - updated 10/15 - CubeSmart (NYSE: CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, today announced that it has priced an underwritten public offering of 6,500,000 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), at a per share public offering price of $19.33, for total estimated gross proceeds of approximately $125,645,000. CubeSmart has also granted the underwriters of the offering a 30-day option to purchase up to an additional 975,000 Common Shares. CubeSmart expects to use all of the net proceeds of the offering for general business purposes, including without limitation, property acquisitions, developments, joint ventures, capital expenditures, working capital, and other general corporate purposes.

CubeSmart is a self-administered and self-managed real estate company focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the U.S. As of Dec 31 2013, Co. owned 366 self-storage facilities located in 20 states and in the District of Columbia containing approx. 24,700,000 rentable sq. ft. Co.'s self-storage facilities provide storage space for its residential and commercial customers. Some of Co.'s facilities provide outside storage areas for vehicles and boats. Co.'s facilities are designed to accommodate residential and commercial customers, with features such as aisles and load-bearing capabilities for truck access.

Preferred: CUBE.PRA


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Company Name:  CubeSmart
Website:  www.cubesmart.com
Sector:  REITs
Number of ETFs Holding CUBE:  39
Total Market Value Held by ETFs:  $360.50M
Total Market Capitalization:  $2.86B
% of Market Cap. Held by ETFs:  12.62%
 

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October 24, 2014    8:36 PM Eastern
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Buy (2.78 out of 4)
30th percentile
(ranked lower than approx. 70% of all stocks covered)
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