- Extra Space Storage (NYSE:EXR) prices a 5.5M (upsized from 5M) share secondary offering at $68.15 each for gross proceeds of roughly $374.8M. The underwriters have the option to buy another 825K shares at that price.
- Source: Press Release
- Extra Space is using the money to help fund its purchase of SmartShop Self Storage for $1.29B.
- The Street likes the deal, as EXR gained 2% yesterday following the announcement of the purchase and sizable secondary.
- EXR flat premarket at $68.50.
- Previously: Extra Space Storage to acquire SmartStop Self Storage for $1.4B (June 15)