SmartStop Self Storage REIT completes 9,372,500-share offering under forward sale agreements
SMA•SmartStop Self Storage REIT's forward sellers completed an offering of 9,372,500 borrowed shares on November 12, including 1,222,500 shares from an underwriters' option exercised in full. The initial forward sale price is $35.6125 per share, and settlement is due by September 30, 2028.
1. Offering details
The forward sellers completed the offering on November 12, 2026. It included 1,222,500 shares from the underwriters' option, exercised in full on November 10. The initial forward sale price is $35.6125 per share, subject to adjustments; SmartStop receives no proceeds initially. Settlement is due by September 30, 2028, and may be physical, cash or net share settlement.
2. Planned use of proceeds
SmartStop intends to use net proceeds to fund pending investments, repay borrowings under its revolving credit facility and Canadian term loan, and support general corporate purposes.
