IPO News Archive
Terreno Realty prices downsized IPO at $20

2/9/10


Terreno Realty, a newly organized REIT targeting industrial real estate in six coastal U.S. markets, raised $175 million on Tuesday by offering 8.75 million shares at $20. The company had delayed its offering after cutting the deal size by 33% in late January; it revised terms again in a Monday SEC filing and ended up raising 42% fewer proceeds than the originally-proposed $300 million. Terreno Realty is expected to begin trading Wednesday on the NYSE under the symbol TRNO. Goldman Sachs acted as the lead underwriter on the deal.

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