Lineage Announces Closing of Initial Public Offering
Lineage (Nasdaq: LINE) has successfully closed its initial public offering (IPO), raising approximately $4.2 billion in net proceeds. The company offered 56,882,051 shares of common stock at a public offering price of $78.00 per share. Trading on the Nasdaq Global Select Market began on July 25, 2024, under the ticker symbol 'LINE'.
The company plans to use the proceeds to repay outstanding borrowings, fund employee cash grants, pay tax withholding obligations, and redeem Series A preferred stock. Any remaining funds will be used for general corporate purposes. The IPO was managed by a consortium of leading investment banks, including Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan, and Wells Fargo Securities as joint lead book-running managers.
Lineage (Nasdaq: LINE) ha concluso con successo la sua offerta pubblica iniziale (IPO), raccogliendo circa 4,2 miliardi di dollari in proventi netti. L'azienda ha offerto 56.882.051 azioni ordinarie a un prezzo di offerta pubblica di 78,00 dollari per azione. Le contrattazioni sul mercato Nasdaq Global Select sono iniziate il 25 luglio 2024, con il simbolo ticker 'LINE'.
L'azienda prevede di utilizzare i proventi per rimborsare prestiti in essere, finanziare contributi in denaro ai dipendenti, pagare obblighi di ritenuta fiscale e riscattare azioni privilegiate di Serie A. Eventuali fondi rimanenti saranno utilizzati per scopi corporate generali. L'IPO è stata gestita da un consorzio di banche d'investimento leader, tra cui Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan e Wells Fargo Securities in qualità di manager principali.
Lineage (Nasdaq: LINE) ha cerrado con éxito su oferta pública inicial (IPO), recaudando aproximadamente 4.2 mil millones de dólares en ingresos netos. La empresa ofreció 56,882,051 acciones ordinarias a un precio de oferta pública de 78.00 dólares por acción. La cotización en el Nasdaq Global Select Market comenzó el 25 de julio de 2024, bajo el símbolo ticker 'LINE'.
La empresa planea utilizar los ingresos para pagar préstamos pendientes, financiar aportes en efectivo a empleados, cubrir obligaciones fiscales y redimir acciones preferentes de la Serie A. Los fondos restantes se utilizarán para propósitos corporativos generales. La IPO fue gestionada por un consorcio de bancos de inversión líderes, incluyendo a Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan y Wells Fargo Securities como gerentes principales de libro conjunto.
라인이지(Lineage)(Nasdaq: LINE)는 성공적으로 초기 공개 제안(IPO)을 마감하여 약 42억 달러의 순수익을 올렸습니다. 이 회사는 56,882,051 주의 보통주를 주당 78.00 달러의 공모가로 제공했습니다. 나스닥 글로벌 선택 시장에서의 거래는 2024년 7월 25일에 'LINE'의 종목 기호로 시작되었습니다.
회사는 수익금을 사용하여 미상환 차입금을 상환하고 직원에게 현금 보조금을 지원하며 세금 원천징수 의무를 지급하고 A형 우선주를 매입할 계획입니다. 남은 자금은 일반 기업 용도로 사용될 것입니다. IPO는 모건 스탠리, 골드만 삭스, BofA 증권, JP모건 및 웰스 파고 증권이 공동 주관 매니저로 참여하는 선도 투자 은행 컨소시엄에 의해 관리되었습니다.
Lineage (Nasdaq: LINE) a réussi à clôturer son introduction en bourse (IPO), levant environ 4,2 milliards de dollars de recettes nettes. L'entreprise a proposé 56 882 051 actions ordinaires à un prix d'offre publique de 78,00 dollars par action. Les transactions sur le Nasdaq Global Select Market ont débuté le 25 juillet 2024, sous le symbole ticker 'LINE'.
L'entreprise prévoit d'utiliser les recettes pour rembourser des emprunts en cours, financer des contributions en espèces pour les employés, payer des obligations de retenue d'impôt et racheter des actions privilégiées de série A. Les fonds restants seront utilisés à des fins générales de l'entreprise. L'IPO a été gérée par un consortium de banques d'investissement de premier plan, notamment Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan et Wells Fargo Securities en tant que gestionnaires principaux du livre conjoint.
Lineage (Nasdaq: LINE) hat erfolgreich seinen Börsengang (IPO) abgeschlossen und rund 4,2 Milliarden US-Dollar an Nettoerlösen erzielt. Das Unternehmen bot 56.882.051 Aktien zu einem öffentlichen Angebotspreis von 78,00 US-Dollar pro Aktie an. Der Handel am Nasdaq Global Select Market begann am 25. Juli 2024 unter dem Tickersymbol 'LINE'.
Das Unternehmen plant, die Erlöse zur Rückzahlung ausstehender Darlehen, zur Finanzierung von Barzuwendungen an Mitarbeiter, zur Begleichung von Steuerabgaben und zur Einlösung von Vorzugsaktien der Serie A zu verwenden. Alle verbleibenden Mittel werden für allgemeine Unternehmenszwecke verwendet. Der IPO wurde von einem Konsortium führender Investmentbanken geleitet, darunter Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan und Wells Fargo Securities als gemeinsame Hauptbuchmanager.
- Successful IPO raising approximately $4.2 billion in net proceeds
- Listing on Nasdaq Global Select Market, potentially increasing visibility and liquidity
- Plans to use proceeds for debt repayment, potentially improving the company's financial position
- Strong support from major investment banks as underwriters
- Potential dilution of existing shareholders due to the large number of new shares issued
- Significant portion of proceeds allocated to debt repayment rather than growth initiatives
- Expenses related to employee cash grants and tax withholding obligations may impact financial results
Lineage's successful IPO marks a significant milestone for the company, raising an impressive
The company's prudent allocation of funds, primarily towards debt repayment, demonstrates a commitment to strengthening its balance sheet. By paying down the delayed draw term loan and revolving credit facility, Lineage is likely to improve its debt-to-equity ratio and reduce interest expenses, potentially boosting profitability in the long term.
The decision to fund one-time cash grants to employees is a strategic move that could enhance employee retention and motivation. However, investors should monitor the impact on operating expenses in the short term.
The redemption of Series A preferred stock is another positive step, simplifying the company's capital structure and potentially reducing dividend obligations.
With
The involvement of numerous prestigious underwriters suggests strong institutional interest, which could provide stability to the stock price. However, the large number of underwriters also indicates significant fees, which have been factored into the net proceeds.
Overall, this IPO positions Lineage as a significant player in its industry, with a strong capital base to support future growth initiatives. Investors should monitor how effectively management deploys the remaining proceeds for 'general corporate purposes' to drive long-term value creation.
Lineage's IPO is a noteworthy event in the current market landscape, particularly given its size and timing. The successful raising of
The IPO's pricing at
The diverse group of underwriters, including major players like Morgan Stanley and Goldman Sachs, as well as smaller, specialized firms, indicates broad market interest and could help ensure a wide distribution of shares among various investor types. This diversity may contribute to liquidity and stability in the stock's trading.
Investors should note the potential market impact of Lineage's debut. As a newly listed company with a substantial market cap, it may be considered for inclusion in various indices, which could drive additional demand for the stock.
The timing of the IPO, amidst a period of economic uncertainty, suggests that Lineage and its underwriters see a window of opportunity in the current market. This could indicate a potential shift in market sentiment towards growth-oriented investments.
Looking ahead, the performance of Lineage's stock in the secondary market will be crucial. A strong performance could encourage other companies considering IPOs to move forward, potentially leading to increased activity in the new issues market.
Overall, this IPO serves as a significant benchmark for market appetite and could influence the timing and pricing of future offerings in the sector.
The Company’s common stock began trading on the Nasdaq Global Select Market on July 25, 2024, under the ticker symbol "LINE".
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Wells Fargo Securities acted as joint lead book-running managers for the offering. RBC Capital Markets, LLC, Rabo Securities
A registration statement relating to these securities was declared effective by the
About Lineage
Lineage, Inc. (Nasdaq: LINE) is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in
Forward-Looking Statements
Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such forward-looking statements can generally be identified by Lineage’s use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “objective,” “goal,” “strategy,” “plan,” “focus,” “priority,” “should,” “could,” “potential,” “possible,” “look forward,” “optimistic,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of Lineage’s performance in future periods. Except as required by law, Lineage does not undertake any obligation to update or revise any forward-looking statements contained in this release.
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Investor Relations Contact
Evan Barbosa
VP, Investor Relations
ir@onelineage.com
Media Contact
Megan Hendricksen
VP, Global Marketing & Communications
pr@onelineage.com
Source: Lineage, Inc.
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