SmartStop Self Storage REIT, an internally managed REIT and an owner and operator of self-storage facilities in the United States and Canada, has held an initial public offering of 27 million shares of common stock at a price of $30 per share.
SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4.05 million shares of its common stock at the public offering price, less underwriting discounts and commissions. Shares of SmartStop’s common stock began trading on April 2 on the New York Stock Exchange under the ticker symbol SMA, and the closing of the offering is expected to occur on April 3, 2025, subject to the satisfaction of customary closing conditions.
Latham & Watkins represented the underwriters in the offering.
