BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE American: PLYM) announced the closing of the issuance of an additional 425,000 shares of common stock pursuant to the partial exercise of the underwriters’ option to purchase additional shares. The Company sold an aggregate of 3,425,000 shares of common stock in the offering at a public offering price of $17.50 per share, resulting in net proceeds to the Company of approximately $56.1 million, after deducting underwriting commissions and offering expenses payable by the Company. Plymouth intends to use the net proceeds from this offering to repay, in whole or in part, amounts outstanding under its secured revolving credit facility, to fund acquisitions and for general corporate purposes.

Barclays and KeyBanc Capital Markets acted as joint book-running managers for the offering, D.A. Davidson & Co. acted as lead manager for the offering and BB&T Capital Markets, National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., Sandler O’Neill + Partners, L.P. and Wedbush Securities Inc. acted as co-managers for the offering.

About Plymouth

Plymouth Industrial REIT, Inc. is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.