Life Storage down after pricing equity offering

Life Storage

14/09/2021 13:39

** Life Storage Inc  LSI.N  shares down nearly 3% premarket
after co prices follow-on
    ** The REIT sells 2.5 mln shares, raises ~$306 mln to repay
debt, fund acquisitions  urn:newsml:reuters.com:*:nBw130bxva
    ** Offering prices at $122.30, 3% discount to stock's last
sale
    ** LSI has ~78.3 mln shares outstanding, per Refinitiv data
    ** Citigroup and Wells Fargo Securities jt bookrunners
    ** Stock, up 58% YTD through Mon close, hit record peak of
$129.87 on Sept 8

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))