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SmartStop Self Storage REIT has announced the pricing of its public offering of 27,000,000 shares of common stock at $30.00 per share. The company has granted underwriters a 30-day option to purchase up to an additional 4,050,000 shares.
Trading is expected to begin on April 2, 2025, on the NYSE under the ticker symbol SMA. The offering is anticipated to close on April 3, 2025. The net proceeds will be used to:
- Redeem 100% of issued Series A Preferred Stock
- Pay down existing credit facility debt
- Repay an acquisition facility
- Fund property acquisitions
- Support general corporate purposes
The offering is led by joint book-running managers including J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, and Truist Securities.
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