National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA)
today announced that the underwriters of the previously announced
initial public offering of 20,000,000 of NSA’s common shares of
beneficial interest, $0.01 par value per share ("common shares"), have
exercised in full their option to purchase up to an additional 3,000,000
common shares from NSA at the initial public offering price, less
underwriting discounts. Net proceeds from the offering of the 23,000,000
common shares, after deducting underwriting discounts and other
transaction costs, total approximately $273 million. In
accordance with NSA's intended use of proceeds as described in the final
prospectus, NSA used the net proceeds from the initial sale of
20,000,000 common shares to acquire 21 self storage properties, bringing
NSA’s total portfolio to 246 properties, and to repay approximately $194
million of indebtedness. NSA intends to use the net proceeds from the
exercise of the underwriters’ option to repay approximately $36 million
of borrowings under its revolving line of credit, resulting in the
repayment of an aggregate of approximately $230 million of indebtedness
with net proceeds from the offering. The sale of the additional
3,000,000 common shares is expected to close on May 18, 2015, subject to
customary closing conditions.
Jefferies LLC, Morgan Stanley, and Wells Fargo Securities are acting as
joint book-running managers, KeyBanc Capital Markets is acting as lead
manager and Baird, RBC Capital Markets, SunTrust Robinson Humphrey and
Capital One Securities are acting as co-managers for the offering. The
offering of these securities is being made only by means of a
prospectus. Copies of the final prospectus can be obtained from:
• Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York
10022, Attention: Equity Syndicate Prospectus Department, by calling
(877) 547-6340 or by emailing Prospectus_Department@Jefferies.com
• Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New
York 10014, Attention: Prospectus Department
• Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York
10152, Attention: Equity Syndicate Department, by calling (800) 326-5897
or by emailing cmclientsupport@wellsfargo.com
The Company's final prospectus may be obtained free of charge from the
U.S. Securities and Exchange Commission's (the "SEC") Website by
visiting the following link: http://www.sec.gov/Archives/edgar/data/1618563/000104746915003907/a2224435z424b4.htm.
A registration statement relating to the securities referenced in the
prospectus has been filed with and declared effective by the SEC. This
press release shall not constitute an offer to sell or the solicitation
of any offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About National Storage Affiliates Trust
National Storage Affiliates Trust is a Maryland real estate investment
trust focused on the ownership, operation and acquisition of
self-storage properties located within the top 100 metropolitan
statistical areas throughout the United States. The Company currently
owns and operates 246 self-storage properties located in 16 states with
approximately 14 million rentable square feet. NSA is the sixth largest
owner and operator of self storage properties among public and private
companies.
Copyright Business Wire 2015