NOVI, Mich.-Lineage, Inc. (the “Company”) (Nasdaq: LINE) today announced the closing of its underwritten initial public offering of 56,882,051 shares of its common stock at a public offering price of $78.00 per share. The net proceeds from the offering were approximately $4.2 billion, after deducting underwriting discounts and commissions and estimated expenses to be borne by the Company. The Company intends to use the net proceeds received from the offering to repay the outstanding borrowings under its deferred draw term loan, repay the outstanding borrowings 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 the stock grants and redeem its Series A Preferred Stock. Following these 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.
The Company’s common stock began trading on the Nasdaq Global Select Market on July 25, 2024, under the symbol “LINE.”
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan y Wells Fargo Securities actuaron como directores conjuntos de la oferta. 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. y Regions Securities LLC actuaron como gestores conjuntos de la oferta. 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. y R. Seelaus & Co., LLC actuaron como cogestores.
A registration statement relating to these securities was declared effective by the United States Securities and Exchange Commission on July 24, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from Morgan Stanley, Prospectus Department, 180 Varick Street, New York, New York 10014, or by email: prospectus@morganstanley.com ; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, fax: 212-902-9316, or by email: prospectus-ny@ny.email.gs.com ; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, email: dg.prospectus_requests@bofa.com ; JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postalemanualrequests@broadridge.com ; and Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (Option #5) or by emailing a request to WFScustomerservice@wellsfargo.com .
About Lineage
Lineage, Inc. (Nasdaq: LINE) is the world’s largest temperature-controlled warehouse REIT, with a network of more than 480 strategically located facilities totaling more than 84.1 million square feet and 3 billion cubic feet of capacity across countries in North America, Europe and Asia Pacific. By combining 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, promote sustainability, minimize waste in the supply chain and, most importantly, feed the world.
Forward-looking statements
Certain statements included in this press release may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends that all such forward-looking statements be covered by the applicable safe harbor provisions for forward-looking statements contained in such laws. Such forward-looking statements can generally be identified by Lineage’s use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “anticipates,” “estimates,” “believes,” “continues,” “seeks,” “objective,” “goal,” “strategy,” “plan,” “focus,” “priority,” “should,” “could,” “potential,” “possible,” “hopes,” “optimistic” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of Lineage’s performance in future periods. Except as required by law, Lineage undertakes no obligation to update or revise any forward-looking statements contained in this release.
The original source-language text of this announcement is the official, authoritative version. Translations are provided for accommodation only and should be cross-checked with the source-language text, which is the only version of the text that will have legal effect.
Contacts
Investor Relations Contact
Evan Barbosa
VP, Investor Relations
ir@onelineage.com
Media Contact
Megan Hendricksen
VP, Global Marketing & Communications
pr@onelineage.com
