Americold Realty Trust Announces Public Offering of Common Shares

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Americold Realty Trust (NYSE: COLD) (the Company or Americold) announced today that it has commenced an underwritten registered public offering of 40,000,000 common shares. The Company will be issuing and selling 33,000,000 common shares directly to the underwriters at closing and the underwriters will purchase 7,000,000 common shares related to the forward sale agreement described below. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 6,000,000 common shares.

BofA Merrill Lynch and Goldman Sachs & Co. LLC are acting as the joint book-running managers and representatives of the underwriters for the offering.

The Company expects to enter into a forward sale agreement with Bank of America, N.A. (the forward purchaser) with respect to 7,000,000 common shares. In connection with the forward sale agreement, the forward purchaser or its affiliate is expected to borrow and sell to the underwriters an aggregate of 7,000,000 common shares that will be delivered in the offering.

Subject to its right to elect cash or net share settlement subject to certain conditions, the Company intends to deliver, upon full physical settlement of such forward sale agreement on one or more dates specified by the Company occurring no later than approximately 12 months following the completion of the offering, an aggregate of 7,000,000 common shares to the forward purchaser in exchange for cash proceeds per share equal to the applicable forward sale price, which will initially be the public offering price less the underwriting discount, and will be subject to certain adjustments as provided in the forward sale agreement.

The Company will receive proceeds from its direct sale of 33,000,000 common shares in the offering, but it will not initially receive any proceeds from the sale of common shares by the forward purchaser or its affiliate. The Company expects to use the net proceeds from its direct sale of common shares in the offering, together with draws under the Companys senior unsecured revolving credit facility, which the Company expects to repay using the proceeds from its debt private placement, if completed, to fund the previously announced acquisition of Chiller Holdco, LLC (the Cloverleaf Acquisition). In the event the Cloverleaf Acquisition is not completed, the Company intends to use the net proceeds for general business purposes, including repayment of outstanding indebtedness and the funding of other development, expansion and acquisition opportunities. The Company expects to use any cash proceeds that it receives upon the future settlement of the forward sale agreement to fund the previously announced expansion in Atlanta, Georgia (the Atlanta Expansion) and for general business purposes, including repayment of outstanding indebtedness and the funding of other development, expansion and acquisition opportunities.

The offering of the common shares is being made pursuant to an effective shelf registration statement. The offering will be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained from:

BofA Merrill Lynch Attn: Prospectus Department NC1-004-03-43 200 North College Street, 3rd Floor Charlotte, NC 28255-0001 Email: [email protected]

Goldman Sachs & Co. LLC Attn: Prospectus Department 200 West Street New York, NY 10282 Telephone: 866-471-2526 Facsimile: 212-902-9316 Email: [email protected]

A copy of the prospectus and related prospectus supplement may also be obtained free of charge from the Securities and Exchange Commissions web site at

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on the Companys beliefs, assumptions and expectations of its future financial and operating performance and growth plans, taking into account the information currently available to the Company. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause the Companys actual results to differ materially from the expectations of future results the Company expresses or implies in any forward-looking statements, and the Company should not place undue reliance on such statements. Factors that could contribute to these differences include, but are not limited to, risks related to the integration of Chiller Holdco, LLC into the Companys business, risks related to expansions of existing properties and developments of new properties such as the Atlanta Expansion and the three expansion opportunities related to the Cloverleaf Acquisition, including failure to meet budgeted costs, timeframes or stabilized returns in respect thereof and risks related to the method of settlement of the Companys forward sale agreements, and the form and amount of proceeds of such settlement.

Words such as anticipates, believes, continues, estimates, expects, goal, objectives, intends, may, opportunity, plans, potential, near-term, long-term, projections, assumptions, projects, guidance, forecasts, outlook, target, trends, should, could, would, will and similar expressions are intended to identify such forward-looking statements. The Company qualifies any forward-looking statements entirely by these cautionary factors. Other risks, uncertainties and factors, including those discussed under the heading Risk Factors in the Companys annual report on Form 10-K for the year ended December 31, 2018, could cause the Companys actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company assumes no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

About Americold Realty Trust

Americold is the worlds largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 155 temperature-controlled warehouses, with approximately 918.7 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americolds facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.

Americold Realty Trust
Investor Relations
Email: [email protected]