Lineage, Inc. - LINE STOCK NEWS

Lineage (NASDAQ: LINE), the world's largest global temperature-controlled warehouse REIT, has announced its first dividend since going public. The company's Board of Directors has declared a prorated quarterly cash dividend of $0.38 per share for Q3 2024. This dividend is calculated for the period from July 26, 2024 (the IPO date) to September 30, 2024, representing an annualized dividend rate of $2.11 per share. Shareholders of record as of September 30, 2024, will receive the payment on October 21, 2024. This move signals Lineage's commitment to providing returns to its investors following its recent initial public offering.

Lineage (NASDAQ: LINE) has announced details for its Food Chain Innovation Challenge, a global competition addressing postharvest food waste. The challenge will take place in London, Amsterdam, and San Francisco in November 2024. Participants can submit applications until September 30.

Regional winners will receive $5,000 and advance to the grand final on December 2. The global winner will be awarded a $50,000 grand prize and invited to a six-month, executive-led incubator program. Distinguished judges from various organizations will evaluate pitches focusing on reducing food waste, food preservation, access to nutritious food, and data-driven insights.

This initiative aims to support innovative solutions as the severely food-insecure population is expected to reach nearly a billion by 2028.

Lineage (NASDAQ: LINE), the world's largest temperature-controlled warehouse REIT, has reached a significant milestone with the issuance of its 100th patent. This achievement underscores the company's commitment to innovation in the cold chain industry. The 100th patent, named 'Lego', is a proprietary solution for optimizing pick pallet build operations and sequencing.

Key highlights:

• Lego helps save labor, energy, and time by identifying the shortest route for collecting outbound goods
• It determines ideal item placement on multi-SKU outbound pallets, increasing cases per pallet
• The innovation reduces the number of pallets and trucks needed, benefiting customers and the environment
• Lego is part of the LinOS system, which coordinates thousands of daily tasks
• Lineage aims to achieve net-zero carbon emissions by 2040

Lineage, Inc. (NASDAQ: LINE), the world's largest global temperature-controlled warehouse REIT, has filed its Form 10-Q for the second quarter of 2024. The company, which recently completed its initial public offering, will not be holding a conference call to discuss its financial results this quarter. This decision is due to the timing of the IPO and the inclusion of initial second-quarter 2024 financial results in the Form S-11 filing. Lineage's Form 10-Q provides detailed financial information for the quarter ended June 30, 2024, offering investors and analysts insight into the company's performance following its public debut.

Lineage (NASDAQ: LINE), the world's largest global temperature-controlled warehouse REIT, has received investment grade credit ratings from Moody's and Fitch. Moody's assigned a Baa2 Issuer Rating with a Stable outlook, while Fitch assigned a BBB+ Long-Term Issuer Default Rating with a Stable outlook.

The ratings recognize Lineage's leading market position, diverse global portfolio, and large portion of recurring revenues. CFO Rob Crisci stated that achieving these ratings was a top priority following their IPO, as it will support efforts to fuel growth and create long-term value for customers and shareholders.

Both agencies highlighted Lineage's critical role in the cold food supply chain and its superior portfolio diversity in terms of asset granularity, geography, commodities, and customer base.

Lineage, Inc. (NASDAQ: LINE), the world's largest global temperature-controlled warehousing REIT, has announced a $100 million investment in its US workforce following its successful IPO on NASDAQ. The investment includes:

1. 'Starting LINE Awards': One-time stock or restricted stock unit awards for the majority of its 16,000+ US team members.

2. 'Lineage Legacies': A planned ongoing equity-based award program launching next year, granting eligible employees restricted stock units that vest over time.

These initiatives aim to foster an ownership mindset and recognize employees' contributions. Lineage, founded in 2008, operates 480+ warehouses in 19 countries, serving over 13,000 customers in the cold chain logistics sector.

Lineage (Nasdaq: LINE) announced that underwriters fully exercised their option to purchase an additional 8,532,307 shares at $78.00 per share, increasing the total shares sold to 65,414,358 and gross proceeds to approximately $5.1 billion. The option closing is set for July 31, 2024. Trading on Nasdaq began on July 25, 2024 under the ticker 'LINE'. Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan, and Wells Fargo Securities were joint lead book-running managers. The IPO was made through a prospectus, with copies available from the lead managers. A registration statement was declared effective by the SEC on July 24, 2024.

Lineage (Nasdaq: LINE) has successfully closed its initial public offering (IPO), raising approximately $4.2 billion in net proceeds. The company offered 56,882,051 shares of common stock at a public offering price of $78.00 per share. Trading on the Nasdaq Global Select Market began on July 25, 2024, under the ticker symbol 'LINE'.

The company plans to use the proceeds to repay outstanding borrowings, fund employee cash grants, pay tax withholding obligations, and redeem Series A preferred stock. Any remaining funds will be used for general corporate purposes. The IPO was managed by a consortium of leading investment banks, including Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan, and Wells Fargo Securities as joint lead book-running managers.

Lineage Foundation for Good, the philanthropic arm of Lineage, Inc., has pledged $8.8 million in food donations and cash grants to address hunger and food insecurity. To kick off this commitment alongside Lineage's IPO, the Foundation is donating $100,000 to New York Common Pantry and hosting a meal kit packing event in Times Square.

Since 2020, Lineage has donated the equivalent of over 176 million meals. The Foundation aims to develop a global link between food producers and those in need. In New York City, 1 in 9 people face hunger, with 1.2 million residents experiencing food insecurity. Globally, up to 309 million people face acute food insecurity in 2024.

Lineage, Inc., the world's largest temperature-controlled warehouse REIT, operates over 480 facilities across North America, Europe, and Asia-Pacific, totaling over 84.1 million square feet of space. The company partners with food producers, retailers, and distributors to increase efficiency and sustainability in the food supply chain.