GREENWOOD VILLAGE, CO—National Storage AffiliatesTrust says it has begun an initial public offering of 20million common shares of beneficial interest of the company to besold on the New York Stock Exchange.
National Storage has set an initial public offering price rangefor the offering at between $15 and $17 per share. The company willgrant the underwriters a 30-day option to purchase up to anadditional 3 million shares.
The firm plans to use the proceeds of the offering to acquire 21additional self-storage properties, to retire some debts, and asworking capital. The shares have been approved for listing on theNYSE, subject to official notice of issuance, under the symbolNSA.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
