Cold-storage warehouse giant Lineage Inc. on Tuesday set a price range for an estimated $3.6 billion initial public offering (IPO). Represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP, this move bolsters the near-term IPO pipeline.
Lineage Launches Potential $3.6B IPO: Details of the Offering
Lineage, a Novi, Michigan-based real estate investment trust (REIT), told regulators it plans to offer 47 million shares priced between $70 and $82, potentially raising $3.57 billion at the midpoint. If the IPO prices at midrange, Lineage would be valued at approximately $17.8 billion based on the number of outstanding common shares and equity units disclosed in its registration statement.
Listing and Schedule
Shares of Lineage are slated to list on the Nasdaq under the symbol LINE. The offering is scheduled to price during the week of July 22, according to research firm Renaissance Capital.
Company Profile
Lineage describes itself as the world’s largest global temperature-controlled warehouse REIT, operating more than 84.1 million square feet across 482 warehouses in North America, Europe, and Asia. The cold-storage specialist reported a $162.8 million net loss on $5.3 billion in revenue for the 12 months ending March 31.
