INDUS Realty Trust (INDT) Falls on 2M Share Stock Offering

INDUS Realty Trust, Inc. (Nasdaq: INDT) shares fell 4.5% after-hours Tuesday after the commencement of 2,000,000 shares of common stock offering, with an additional 30-day option planned to be granted to underwriters for purchasing up to 300,000 additional shares.

The net proceeds of this offering, where Morgan Stanley and Citigroup are acting as co-lead joint book-running managers, will be used to finance the company’s acquisition and development pipeline and for other corporate purposes.

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