Americold Realty Trust has announced the launch of its initial public offering of 43 million common shares of beneficial interest, par value 1 cent per share, all offered by Americold in a primary offering.
Americold Realty Trust has announced the launch of its initial public offering of 43 million common shares of beneficial interest, par value 1 cent per share, all offered by Americold in a primary offering. The initial public offering price is expected to be between $14 and $16 per share.
Americold’s common shares have been approved for listing on The New York Stock Exchange under the ticker symbol “ACRE.” The underwriters have the option to purchase from Americold up to an additional 6.45 million common shares. Americold intends to use the net proceeds of the offering to finance the acquisition and consolidation into its portfolio of certain warehouses and operations of Versacold International Corporation in the United States, Australia, New Zealand and Argentina, to pay fees, expenses and taxes incurred in connection with its initial public offering and for general corporate purposes.
Goldman, Sachs & Co. and J.P. Morgan Securities Inc. will act as joint book-running managers for the offering, with Deutsche Bank Securities Inc., RBC Capital Markets Corporation and Wells Fargo Securities LLC acting as co-lead managers. This offering will be made only by means of a prospectus.
Copies of the preliminary prospectus relating to the offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West St., New York, N.Y., 10282, 866/471-2526, firstname.lastname@example.org; or J.P. Morgan, Attn: J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, 866/803-9204.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Americold Realty Trust launches IPO
April 25, 2010