** SmartStop Self-Storage REIT SMA.N is set to begin trading on the New York Stock Exchange under symbol “SMA” on Wednesday
** Ladera Ranch, California-based SMA late Tuesday sold 27 million shares at $30 apiece to raise $810 million
** IPO priced in the lower half of the marketed range of $28 to $35
** Founded in 2013, SMA is one of the largest self-storage companies in North America
** SMA had been in the IPO pipeline for a long time, having publicly filed for its NYSE listing in April 2022
** J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Truist Securities were the joint book-running managers for the offering
** Proceeds will be used to repay debt, redeem preferred stock, and to fund growth
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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