BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced the issuance of 1,125,000 shares of common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares in the Company’s previously announced public offering of common stock. The Company sold an aggregate of 8,625,000 shares of common stock in the offering at a public offering price of $12.85 per share, resulting in net proceeds to the Company of approximately $104.8 million, 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.

This press release shall not constitute an offer to sell or a solicitation to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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.