BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced the upsizing and pricing of its underwritten registered public offering of 7,500,000 shares of its common stock at a public offering price of $12.85 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 1,125,000shares of its common stock. The offering is expected to close on August 21, 2020, subject to the satisfaction of certain customary closing conditions.

Net proceeds of the offering to the Company are expected to be approximately $91.1million, after deducting underwriting commissions and offering expenses payable by the Company. Plymouth intends to use the net proceeds from this offering to fund acquisitions, including certain industrial properties under contract, and for working capital and other general purposes, including to repay outstanding indebtedness under its revolving credit facility.

Barclays, KeyBanc Capital Markets, BMO Capital Markets and J.P. Morgan acted as joint book-running managers for the offering. Baird, D.A. Davidson, Capital One Securities, Piper Sandler, National Securities Corporation and Wedbush Securities 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.