Life Storage (LSI) Announces 2.5M Share Offering

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Go back to Life Storage (LSI) Announces 2.5M Share Offering

Life Storage, Inc. Announces Offering of 2,500,000 Shares of Common Stock

September 13, 2021 4:05 PM EDT

BUFFALO, N.Y.--(BUSINESS WIRE)-- Life Storage, Inc. (NYSE: LSI), a leading national owner and operator of self-storage properties, announced that it will issue and sell 2,500,000 shares of its common stock in a public offering. Citigroup and Wells Fargo Securities are acting as the joint book-running managers for the offering. Life Storage will grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock.

The Company intends to use the net proceeds from the offering to repay the outstanding balance under its revolving credit facility, fund... More