DENVER, Feb. 14, 2011 /PRNewswire/ -- DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate company, announced today that it has commenced a public offering of 19,000,000 shares of common stock. In addition, the Company expects to grant to the underwriters for the public offering an option for 30 days to purchase up to 2,850,000 additional shares of common stock to cover overallotments, if any. BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities will serve as the joint book-running managers for the offering.
The Company intends to use up to $95 million of net proceeds received from this offering to repay amounts outstanding under its senior unsecured revolving credit facility and the remaining net proceeds for general corporate purposes, including for future acquisitions. The offering will be made pursuant to a prospectus supplement to the Company's prospectus, dated March 23, 2010, filed as part of the Company's effective shelf registration statement relating to these securities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will 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 registration or qualification under the securities laws of any such state or other jurisdiction.
Copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities when available may be obtained by contacting:
BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080 or by email at email@example.com;
J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204; or
Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, at 1-800-326-5897 or by email at firstname.lastname@example.org.
About DCT Industrial Trust®
DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of December 31, 2010, the Company owns, manages or has under development 76.3 million square feet of assets leased to more than 840 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners.
SOURCE DCT Industrial Trust Inc.