Lineage
Assembly Line
Lineage Announces Pricing of Initial Public Offering
Lineage, Inc. announced the pricing of its underwritten initial public offering of 56,882,051 shares of its common stock at the initial public offering price of $78.00 per share. In addition, the underwriters of the offering have been granted a 30-day option to purchase from the Company up to 8,532,307 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds received from the offering to repay borrowings outstanding under its delayed draw term loan, repay borrowings outstanding under its revolving credit facility, fund one-time cash grants to certain of its employees in connection with this offering and estimated cash to pay tax withholding obligations associated with stock grants and redeem its Series A preferred stock. Following such uses, the Company expects to use the remaining net proceeds for general corporate purposes, which may include the repayment of additional borrowings outstanding under its revolving credit facility.
Lineage, Inc. 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 North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.