(Source: PRNewswire-FirstCall)
DENVER, June 8 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (the "Company") announced today that the underwriters of its public offering of 24,000,000 shares of common stock exercised their over-allotment option in full to purchase an additional 3,600,000 shares of common stock from the Company at a price per share of $4.25. Merrill Lynch & Co., J.P. Morgan and Wachovia Securities acted as the joint book-running managers. Subject to customary closing conditions, the closing for the additional shares is expected to occur on or about June 10, 2009.
The estimated net proceeds to the Company from the offering, including the exercise of the underwriters' overallotment option, are expected to be approximately $111.4 million. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include the repayment of debt.
The offering was made pursuant to a prospectus supplement to the Company's prospectus, dated August 8, 2007, filed as part of the Company's effective shelf registration statement relating to these securities. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained from:
Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, New York 10080;
J.P. Morgan Securities Inc., Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, (718) 242-8002; or
Wachovia Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, NY 10152, 1-800-326-5897, equity.syndicate@wachovia.com.
About DCT Industrial Trust
DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of March 31, 2009, the Company owned, managed or had under development 75.9 million square feet of assets leased to approximately 850 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at http://www.dctindustrial.com/.
