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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., May. 29, 3:03 PM

Slide #17. Sovran Self Storage, Inc. Secondary Offering

Company: Sovran Self Storage, Inc. (NYSE:SSS)
Date announced: 5/19/2016
Shares Offered: 6,000,000
Date of Pricing: 5/19/2016
Price Per Share: $100.00
Secondary Offering Details: Sovran Self Storage, Inc. ("Sovran" or the "Company") (NYSE:SSS), a self storage real estate investment trust (REIT), announced today that it has commenced a public offering of 6,000,000 shares of common stock. In connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock. -updated 5/19- Sovran Self Storage, Inc. (NYSE:SSS), announced today that it priced an underwritten public offering of 6,000,000 shares of its common stock at $100.00 per share. Net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $578.4 million. The underwriters have a 30-day option to buy up to an additional 900,000 shares. The offering is expected to close on Wednesday, May 25, 2016 subject to customary closing conditions.

Sovran Self Storage is a real estate investment trust that acquires, owns and manages self-storage properties. At Dec 31 2014, Co. held ownership interests in, leased, and/or managed 518 properties consisting of approximately 35.5 million net rentable square feet, situated in 25 states. Co.'s properties conduct business under the name Uncle Bob's Self-Storage®. All of Co.'s properties have a property manager on-site during business hours. Customers have access to their storage space up to 15 hours a day, and some customers are provided 24-hour access. Individual storage spaces are secured by a lock furnished by the customer to provide the customer with control of access to the space.

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Company Name:  Sovran Self Storage Inc
Sector:  REITs
Number of ETFs Holding SSS:  55
Total Market Value Held by ETFs:  $366.64M
Total Market Capitalization:  $4.20B
% of Market Cap. Held by ETFs:  8.74%

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May 29, 2016    3:03 PM Eastern
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Buy (3.18 out of 4)
53rd percentile
(ranked higher than approx. 53% of all stocks covered)
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