Lineage, Inc. reports news as a global temperature-controlled warehouse REIT serving food and beverage producers, retailers, and distributors. Company updates commonly cover quarterly results, network utilization, warehouse capacity across North America, Europe and Asia-Pacific, and the performance of Global Warehousing and Global Integrated Solutions.
Recurring releases also address common-stock dividends, tax treatment of distributions, earnings guidance, supply-chain operating conditions, technology and transformation leadership, and service initiatives tied to refrigerated storage and integrated logistics.
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.