DCT Industrial Trust Prices $144 Mln Stock Offering

(RTTNews) - DCT Industrial Trust Inc. (DCT) said Thursday that it priced a public offering of 20 million shares of common stock at a price per share of $7.20.

In addition, the company has granted to the underwriters for the public offering an option for 30 days to purchase up to 3 million additional shares of common stock.

The offering is expected to close on or about August 13.

The estimated net proceeds to the company from the offering, before giving effect to any exercise of the underwriters' option to purchase additional shares, are expected to be about $137.5 million.

The company plans to use the net proceeds received from this offering for future acquisitions, development activities, repayment of amounts outstanding under its senior unsecured revolving credit facility, general corporate purposes, or a combination of the foregoing.