Plymouth Industrial REIT (PLYM) IPO Opens Modestly Lower

Today's IPO for Plymouth Industrial REIT (NYSE: PLYM) opened for trading at $18.36 after pricing 2,900,000 shares of common stock at a public offering price of $19.00 per share.

In connection with the offering, Plymouth granted the underwriters of the offering a 30-day over-allotment option to purchase up to an additional 435,000 shares at the initial public offering price, less the underwriting discount.

The offering is being made through an underwriting group led by D.A. Davidson & Co., BB&T Capital Markets and Oppenheimer & Co., who are acting as joint book-running managers for the offering. National Securities Corporation and Wedbush Securities are acting as the co-lead managers, and Janney Montgomery Scott is acting as co-manager.

Plymouth is a full service, vertically integrated, self-administered and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant Class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.

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