[424B5] REXFORD INDUSTRIAL REALTY, INC. Prospectus Supplement (Debt Securities)
Rexford Industrial Realty (REXR) filed a Rule 424(b)(5) prospectus supplement to amend its existing $1.25 billion at-the-market (ATM) common-stock offering program. Since launch, the company has sold $322.6 million, leaving $927.4 million in remaining capacity.
The amendment adds BMO Capital Markets Corp. and BNP Paribas Securities Corp. as sales agents and forward sellers, with their affiliates acting as forward purchasers. All earlier agents—BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist and Wells Fargo—remain in place. The expanded syndicate enhances distribution reach and flexibility for potential forward sales.
No new financial results were provided. Investors should weigh the program’s benefit of inexpensive capital access against potential dilution if the remaining capacity is fully utilized. The filing reiterates the “Risk Factors” referenced in the original prospectus supplement.
Rexford Industrial Realty (REXR) ha presentato un supplemento al prospetto secondo la Regola 424(b)(5) per modificare il suo programma esistente di offerta di azioni ordinarie ATM (at-the-market) da 1,25 miliardi di dollari. Dall'inizio del programma, la società ha venduto azioni per un valore di 322,6 milioni di dollari, lasciando una capacità residua di 927,4 milioni di dollari.
La modifica aggiunge come agenti di vendita e venditori a termine BMO Capital Markets Corp. e BNP Paribas Securities Corp., con le loro affiliate che agiranno come acquirenti a termine. Tutti gli agenti precedenti — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist e Wells Fargo — rimangono confermati. La sindacazione ampliata migliora la portata della distribuzione e la flessibilità per eventuali vendite a termine.
Non sono stati forniti nuovi risultati finanziari. Gli investitori dovrebbero valutare il vantaggio di un accesso al capitale a basso costo offerto dal programma rispetto al rischio di diluizione nel caso in cui la capacità residua venga completamente utilizzata. Il documento ribadisce i “Fattori di Rischio” indicati nel supplemento al prospetto originale.
Rexford Industrial Realty (REXR) presentó un suplemento al prospecto bajo la Regla 424(b)(5) para modificar su programa existente de oferta de acciones ordinarias ATM (at-the-market) por 1.250 millones de dólares. Desde el lanzamiento, la compañía ha vendido acciones por un valor de 322,6 millones de dólares, quedando una capacidad restante de 927,4 millones de dólares.
La enmienda incorpora como agentes de ventas y vendedores a plazo a BMO Capital Markets Corp. y BNP Paribas Securities Corp., con sus afiliadas actuando como compradores a plazo. Todos los agentes anteriores — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist y Wells Fargo — permanecen activos. La ampliación del sindicato mejora el alcance de distribución y la flexibilidad para posibles ventas a plazo.
No se proporcionaron nuevos resultados financieros. Los inversores deben sopesar el beneficio de un acceso barato al capital que ofrece el programa frente a la posible dilución si se utiliza totalmente la capacidad restante. El documento reitera los “Factores de Riesgo” mencionados en el suplemento del prospecto original.
렉스포드 인더스트리얼 리얼티(REXR)는 기존 12억 5천만 달러 규모의 ATM(시장가 매도) 보통주 공모 프로그램을 수정하기 위해 Rule 424(b)(5) 규정에 따른 증권 설명서 보충서를 제출했습니다. 프로그램 시작 이후 회사는 3억 2,260만 달러를 판매했으며, 남은 용량은 9억 2,740만 달러입니다.
이번 수정안에는 BMO 캐피털 마켓츠 코퍼레이션과 BNP 파리바 시큐리티즈 코퍼레이션이 판매 대리인 및 선도 판매자로 추가되며, 이들의 계열사는 선도 구매자로 활동합니다. 기존의 BofA, 골드만 삭스, 제프리스, J.P. 모건, 미즈호, 리전스, 스코샤뱅크, 트루이스트, 웰스파고 등 모든 대리인은 그대로 유지됩니다. 확대된 신디케이트는 배포 범위와 선도 판매 가능성에 대한 유연성을 강화합니다.
새로운 재무 결과는 제공되지 않았습니다. 투자자들은 프로그램이 제공하는 저비용 자본 접근의 이점과 남은 용량이 완전히 사용될 경우 발생할 수 있는 희석화 위험을 신중히 고려해야 합니다. 제출 문서에는 원래 설명서 보충서에 명시된 “위험 요소”가 재확인되어 있습니다.
Rexford Industrial Realty (REXR) a déposé un supplément au prospectus conformément à la règle 424(b)(5) afin de modifier son programme d’offre d’actions ordinaires at-the-market (ATM) existant de 1,25 milliard de dollars. Depuis le lancement, la société a vendu pour 322,6 millions de dollars, laissant une capacité restante de 927,4 millions de dollars.
L’amendement ajoute BMO Capital Markets Corp. et BNP Paribas Securities Corp. en tant qu’agents de vente et vendeurs à terme, leurs filiales agissant comme acheteurs à terme. Tous les agents précédents — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist et Wells Fargo — restent en place. Le syndicat élargi améliore la portée de distribution et la flexibilité pour d’éventuelles ventes à terme.
Aucun nouveau résultat financier n’a été communiqué. Les investisseurs doivent évaluer l’avantage d’un accès au capital à faible coût offert par le programme par rapport au risque de dilution si la capacité restante est pleinement utilisée. Le dépôt réitère les « Facteurs de Risque » mentionnés dans le supplément au prospectus original.
Rexford Industrial Realty (REXR) hat einen Nachtrag zum Prospekt gemäß Regel 424(b)(5) eingereicht, um sein bestehendes 1,25 Milliarden US-Dollar umfassendes At-the-Market (ATM)-Aktienangebot zu ändern. Seit dem Start hat das Unternehmen Aktien im Wert von 322,6 Millionen US-Dollar verkauft, sodass eine verbleibende Kapazität von 927,4 Millionen US-Dollar besteht.
Die Änderung fügt BMO Capital Markets Corp. und BNP Paribas Securities Corp. als Verkaufsagenten und Forward-Verkäufer hinzu, wobei deren Tochtergesellschaften als Forward-Käufer fungieren. Alle bisherigen Agenten – BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist und Wells Fargo – bleiben bestehen. Das erweiterte Konsortium verbessert die Reichweite der Distribution und die Flexibilität für potenzielle Forward-Verkäufe.
Es wurden keine neuen Finanzergebnisse veröffentlicht. Investoren sollten den Vorteil eines kostengünstigen Kapitalzugangs durch das Programm gegen eine mögliche Verwässerung abwägen, falls die verbleibende Kapazität vollständig ausgeschöpft wird. Die Einreichung bekräftigt die im ursprünglichen Prospektergänzung genannten „Risikofaktoren“.
- $927.4 million of remaining ATM capacity provides flexible, low-cost capital for future growth.
- Addition of BMO Capital Markets and BNP Paribas broadens the sales syndicate, enhancing liquidity and pricing efficiency.
- Utilisation of the remaining ATM could dilute existing shareholders if proceeds are not promptly deployed into accretive assets.
- Continuous equity issuance may pressure per-share FFO until earnings from new investments materialise.
Insights
TL;DR: Amendment widens ATM syndicate; flexibility up, dilution risk unchanged—overall neutral.
Adding BMO and BNP increases placement breadth, potentially lowering execution costs and improving liquidity when issuing shares or entering forward sales. However, the aggregate size of the program is unchanged, and only 26% has been used. The remaining $927 million could dilute EPS/FFO by ~5–6% if issued at today’s market cap, yet also funds growth in the land-scarce Southern California industrial market. Because neither the facility size nor financial guidance changed, I view the filing as operationally useful but not financially transformative.
TL;DR: More agents aid execution; investor impact modest—watch dilution timing.
REXR routinely taps equity to finance accretive acquisitions. By enlarging its ATM dealer group, the REIT can issue stock or utilize forwards in smaller, opportunistic increments, minimising market impact. Yet the prospectus does not earmark proceeds, leaving uncertainty on deployment pace. Given REXR’s strong premium-to-NAV, equity remains an attractive currency, but persistent issuance may cap near-term per-share growth if investment opportunities lag.
Rexford Industrial Realty (REXR) ha presentato un supplemento al prospetto secondo la Regola 424(b)(5) per modificare il suo programma esistente di offerta di azioni ordinarie ATM (at-the-market) da 1,25 miliardi di dollari. Dall'inizio del programma, la società ha venduto azioni per un valore di 322,6 milioni di dollari, lasciando una capacità residua di 927,4 milioni di dollari.
La modifica aggiunge come agenti di vendita e venditori a termine BMO Capital Markets Corp. e BNP Paribas Securities Corp., con le loro affiliate che agiranno come acquirenti a termine. Tutti gli agenti precedenti — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist e Wells Fargo — rimangono confermati. La sindacazione ampliata migliora la portata della distribuzione e la flessibilità per eventuali vendite a termine.
Non sono stati forniti nuovi risultati finanziari. Gli investitori dovrebbero valutare il vantaggio di un accesso al capitale a basso costo offerto dal programma rispetto al rischio di diluizione nel caso in cui la capacità residua venga completamente utilizzata. Il documento ribadisce i “Fattori di Rischio” indicati nel supplemento al prospetto originale.
Rexford Industrial Realty (REXR) presentó un suplemento al prospecto bajo la Regla 424(b)(5) para modificar su programa existente de oferta de acciones ordinarias ATM (at-the-market) por 1.250 millones de dólares. Desde el lanzamiento, la compañía ha vendido acciones por un valor de 322,6 millones de dólares, quedando una capacidad restante de 927,4 millones de dólares.
La enmienda incorpora como agentes de ventas y vendedores a plazo a BMO Capital Markets Corp. y BNP Paribas Securities Corp., con sus afiliadas actuando como compradores a plazo. Todos los agentes anteriores — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist y Wells Fargo — permanecen activos. La ampliación del sindicato mejora el alcance de distribución y la flexibilidad para posibles ventas a plazo.
No se proporcionaron nuevos resultados financieros. Los inversores deben sopesar el beneficio de un acceso barato al capital que ofrece el programa frente a la posible dilución si se utiliza totalmente la capacidad restante. El documento reitera los “Factores de Riesgo” mencionados en el suplemento del prospecto original.
렉스포드 인더스트리얼 리얼티(REXR)는 기존 12억 5천만 달러 규모의 ATM(시장가 매도) 보통주 공모 프로그램을 수정하기 위해 Rule 424(b)(5) 규정에 따른 증권 설명서 보충서를 제출했습니다. 프로그램 시작 이후 회사는 3억 2,260만 달러를 판매했으며, 남은 용량은 9억 2,740만 달러입니다.
이번 수정안에는 BMO 캐피털 마켓츠 코퍼레이션과 BNP 파리바 시큐리티즈 코퍼레이션이 판매 대리인 및 선도 판매자로 추가되며, 이들의 계열사는 선도 구매자로 활동합니다. 기존의 BofA, 골드만 삭스, 제프리스, J.P. 모건, 미즈호, 리전스, 스코샤뱅크, 트루이스트, 웰스파고 등 모든 대리인은 그대로 유지됩니다. 확대된 신디케이트는 배포 범위와 선도 판매 가능성에 대한 유연성을 강화합니다.
새로운 재무 결과는 제공되지 않았습니다. 투자자들은 프로그램이 제공하는 저비용 자본 접근의 이점과 남은 용량이 완전히 사용될 경우 발생할 수 있는 희석화 위험을 신중히 고려해야 합니다. 제출 문서에는 원래 설명서 보충서에 명시된 “위험 요소”가 재확인되어 있습니다.
Rexford Industrial Realty (REXR) a déposé un supplément au prospectus conformément à la règle 424(b)(5) afin de modifier son programme d’offre d’actions ordinaires at-the-market (ATM) existant de 1,25 milliard de dollars. Depuis le lancement, la société a vendu pour 322,6 millions de dollars, laissant une capacité restante de 927,4 millions de dollars.
L’amendement ajoute BMO Capital Markets Corp. et BNP Paribas Securities Corp. en tant qu’agents de vente et vendeurs à terme, leurs filiales agissant comme acheteurs à terme. Tous les agents précédents — BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist et Wells Fargo — restent en place. Le syndicat élargi améliore la portée de distribution et la flexibilité pour d’éventuelles ventes à terme.
Aucun nouveau résultat financier n’a été communiqué. Les investisseurs doivent évaluer l’avantage d’un accès au capital à faible coût offert par le programme par rapport au risque de dilution si la capacité restante est pleinement utilisée. Le dépôt réitère les « Facteurs de Risque » mentionnés dans le supplément au prospectus original.
Rexford Industrial Realty (REXR) hat einen Nachtrag zum Prospekt gemäß Regel 424(b)(5) eingereicht, um sein bestehendes 1,25 Milliarden US-Dollar umfassendes At-the-Market (ATM)-Aktienangebot zu ändern. Seit dem Start hat das Unternehmen Aktien im Wert von 322,6 Millionen US-Dollar verkauft, sodass eine verbleibende Kapazität von 927,4 Millionen US-Dollar besteht.
Die Änderung fügt BMO Capital Markets Corp. und BNP Paribas Securities Corp. als Verkaufsagenten und Forward-Verkäufer hinzu, wobei deren Tochtergesellschaften als Forward-Käufer fungieren. Alle bisherigen Agenten – BofA, Goldman Sachs, Jefferies, J.P. Morgan, Mizuho, Regions, Scotiabank, Truist und Wells Fargo – bleiben bestehen. Das erweiterte Konsortium verbessert die Reichweite der Distribution und die Flexibilität für potenzielle Forward-Verkäufe.
Es wurden keine neuen Finanzergebnisse veröffentlicht. Investoren sollten den Vorteil eines kostengünstigen Kapitalzugangs durch das Programm gegen eine mögliche Verwässerung abwägen, falls die verbleibende Kapazität vollständig ausgeschöpft wird. Die Einreichung bekräftigt die im ursprünglichen Prospektergänzung genannten „Risikofaktoren“.
Filed Pursuant to Rule 424(b)(5)
Registration Statement No. 333-275138
PROSPECTUS SUPPLEMENT
(To Prospectus dated October 23, 2023)
Up to $1,250,000,000
Rexford Industrial Realty, Inc.
Common Stock
This prospectus supplement is being filed to update, amend and supplement certain information in the prospectus supplement dated and filed with the Securities and Exchange Commission (the “SEC”) on October 23, 2023 (the “Original Prospectus Supplement”) and the base prospectus dated October 23, 2023 (the “Prospectus”) relating to the offer and sale of shares of our common stock, par value $0.01 per share (“our common stock”), having an aggregate gross sales price of up to $1,250,000,000 pursuant to separate equity distribution agreements dated as of February 17, 2023 and amended as of October 23, 2023, and in the case of BTIG, LLC, dated of October 23, 2023 (each as may be amended from time to time, and collectively, the “Original Equity Distribution Agreements”) with each of BofA Securities, Inc., BTIG, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, each a sales agent (as defined in the Original Prospectus Supplement) and, in certain cases, one of their respective affiliates (except with respect to BTIG, LLC, in which case the relevant forward purchaser is Nomura Global Financial Products, Inc. and the relevant forward seller is Nomura Securities International, Inc. (acting through BTIG, LLC, as its agent)). As of the date of this prospectus supplement, shares of our common stock with an aggregate gross sales price of $322.6 million has been offered and sold under the Original Equity Distribution Agreements. Additional shares of our common stock with an aggregate gross sales price of up to $927.4 million may be offered and sold pursuant to the Equity Distribution Agreements (as defined below). This prospectus supplement is only intended to update, amend and supplement certain information in the Original Prospectus Supplement to the extent set forth in the following paragraph. You should read this prospectus supplement together with the Original Prospectus Supplement and Prospectus.
On July 22, 2025, we entered into (i) an amendment to the Original Equity Distribution Agreements with each of BofA Securities, Inc., BTIG, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC and (ii) equity distribution agreements with each of BMO Capital Markets Corp. and BNP Paribas Securities Corp. (the “New Equity Distribution Agreements” and, together with the Original Equity Distribution Agreements, the “Equity Distribution Agreements”). Pursuant to the New Equity Distribution Agreements, BMO Capital Markets Corp. and BNP Paribas Securities Corp. shall each become sales agents and Forward Sellers, and their respective affiliates shall each become Forward Purchasers. Accordingly, any reference in the Original Prospectus Supplement to (i) “sales agent” or “sales agents” shall hereafter be deemed to refer to BofA Securities, Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., BTIG, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as applicable, (ii)“forward seller” or “forward sellers” shall hereafter be deemed to refer to BofA Securities, Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Nomura Securities International, Inc. (acting through BTIG, LLC as its agent), Regions Securities LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as applicable, and (iii) “forward purchaser” or “forward purchasers” shall hereafter be deemed to refer to Bank of America, N.A., Bank of Montreal, BNP PARIBAS, Goldman Sachs & Co. LLC, Jefferies LLC, JPMorgan Chase Bank, National Association, Mizuho Securities USA LLC, Nomura Global Financial Products, Inc., Regions Securities LLC, The Bank of Nova Scotia, Truist Bank and Wells Fargo Bank, National Association, as applicable.
Investing in shares of our common stock involves risks that are described in the “Risk Factors” section beginning on page S-4 of the Original Prospectus Supplement.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus to which it relates is truthful or complete. Any representation to the contrary is a criminal offense.
| BofA Securities | BMO Capital Markets | |
| BNP PARIBAS | BTIG | |
| Goldman Sachs & Co. LLC | Jefferies | |
| J.P. Morgan | Mizuho | |
| Regions Securities LLC | Scotiabank | |
| Truist Securities | Wells Fargo Securities | |
The date of this prospectus supplement is July 22, 2025.
FAQ
How much capacity remains under REXR's $1.25 billion ATM program?
What is new in this prospectus supplement for REXR?
How much stock has Rexford Industrial sold so far under the ATM?
Does the amendment change the total size of the equity program?
What risks should investors consider with this filing?
