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Lineage Announces Full Exercise of the Underwriters’ Option to Purchase Additional Shares, Increasing Gross Proceeds to $5.1 Billion
NOVI, Mich.--(BUSINESS WIRE)-- Lineage, Inc. (the “Company”) (Nasdaq: LINE) today announced that the underwriters of its previously announced initial public
About this update from Lineage, Inc.
[{"type":"text","content":" NOVI, Mich.--(BUSINESS WIRE)--\nLineage, Inc. (the “Company”) (Nasdaq: LINE) today announced that the underwriters of its previously announced initial public offering have fully exercised their option to purchase an additional 8,532,307 shares of the Company’s common stock at the initial public offering price of $78.00 per share, less underwriting discounts and commissions. The option closing will settle on July 31, 2024, subject to customary conditions. After giving effect to the option closing, the Company sold a total of 65,414,358 shares of its common stock in the offering, representing gross proceeds of approximately $5.1 billion, prior to underwriting discounts and commissions and estimated expenses payable by the Company.\n\n\nThe Company’s common stock began trading on the Nasdaq Global Select Market on July 25, 2024 under the ticker symbol \"LINE\".\n\n\nMorgan 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 USA, Inc., Scotia Capital (USA) Inc., UBS Securities LLC, Capital One Securities, Inc., Truist Securities, Inc., Evercore ISI, Robert W. Baird & Co. Incorporated, KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, Deutsche Bank Securities Inc., CBRE Capital Advisors, Inc., HSBC Securities (USA) Inc., Piper Sandler & Co. and Regions Securities LLC acted as joint book-running managers for the offering. Blaylock Van, LLC, Cabrera Capital Markets LLC, C.L. King & Associates, Inc., Drexel Hamilton, LLC, Guzman & Company, Loop Capital Markets LLC, Roberts & Ryan Investments, Inc. and R. Seelaus & Co., LLC acted as co-managers.\n\n\nA registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on July 24, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus related to this offering may be obtained from Morgan Stanley, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email: [email protected]; BofA Securities, NC1-022-02-25, 201 No...