Americold Realty Trust, a third-party logistics provider (3PL) for the consumer packaged goods industry, has launched its initial public offering of 43,000,000 common shares of beneficial interest, par value $0.01 per share, all offered by Americold in a primary offering. The initial public offering price is expected to be between $14.00 and $16.00 per share, and the company hopes to raise $645 million.
Americold’s common shares have been approved for listing on The New York Stock Exchange under the ticker symbol “ACRE.” The underwriters have the option to purchase from Americold up to an additional 6,450,000 common shares. Americold intends to use the net proceeds of the offering to finance the acquisition and consolidation into its portfolio of certain warehouses and operations of Versacold International Corporation in the United States, Australia, New Zealand and Argentina, to pay fees, expenses and taxes incurred in connection with its initial public offering and for general corporate purposes.
