STAG Industrial, Inc. Announces Pricing Of 3,000,000 Shares Of 6.875% Series C Cumulative Redeemable Preferred Stock

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Mar 10, 2016, 08:16 ET

BOSTON, March 10, 2016 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced the pricing of an underwritten public offering of 3,000,000 shares of its 6.875% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at a price of $25.00 per share for gross proceeds of $75 million. The offering is expected to close on March 17, 2016, subject to customary closing conditions. The Company intends to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "STAG Pr C."

The Company intends to use the net proceeds from the offering to fund acquisitions, to repay indebtedness outstanding under the Company's $450 million unsecured credit facility, for general working capital purposes or a combination of the foregoing.

Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Raymond James & Associates, Inc. and Wells Fargo Securities, LLC acted as the joint book-running managers for the offering.

A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will 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.

The offering of these securities will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus may be obtained from (a) Morgan Stanley & Co. LLC, 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department (telephone: 1-866-718-1640 or email: [email protected]); (b) Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038 (telephone: 1-800-294-1322 or email: [email protected]); (c) Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716 (telephone: 1-800-248-8863 or email: [email protected]); (d) Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service (telephone: 1-800-645-3751 or email: [email protected]); or (e) the Internet site of the Securities and Exchange Commission at http://www.sec.gov.

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant industrial properties throughout the United States. The Company's portfolio consists of 291 buildings in 38 states with approximately 54.7 million rentable square feet.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. Forward-looking statements in this press release include, among others, statements about the expected closing of the offering and the use of proceeds from the offering. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2015, as updated by the Company's annual and quarterly reports. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

SOURCE STAG Industrial, Inc.