DCT Industrial Expects Gross Proceeds Of $113.7 Mln From Share Offering

(RTTNews) - DCT Industrial Trust (DCT), an industrial real estate company, Tuesday priced an underwritten public offering of 13.5 million common shares for expected gross proceeds of $113.67 million.

Subject to customary conditions, the offering is expected to close on November 7. The company also granted the underwriter an option to purchase up to about 2.03 million additional shares.

Wells Fargo Securities is serving as the sole underwriter of the offering.

The company intends to use the net proceeds received from the offering for the repayment of debts, future acquisitions and development activities, and for general corporate purposes.