SmartStop IPO: $972M Raise Planned
- SmartStop Self Storage REIT, based in Ladera Ranch, CA, is moving forward with its initial public offering.
- Underwriters will have a 30-day option to purchase an additional 4,050,000 shares under the same terms.
- The company plans to use the net proceeds from this IPO to redeem its outstanding Series A Preferred Stock.
SmartStop Self Storage is set to launch its initial public offering (IPO), aiming to raise up to $972 million, a move poised to reshape the self-storage market. The SmartStop IPO will see the offering of 27 million shares, priced between $28 and $36, signaling a significant step for the California-based REIT. The company plans to use the net proceeds to redeem preferred stock, reduce debt, and bolster future property acquisitions. This strategic move highlights SmartStop’s commitment to expansion and market dominance. The deal, managed by key financial institutions, is expected to price the week of March 31, 2025.News Directory 3 is following the developments closely. Discover what’s next as SmartStop gears up for its NYSE debut under the ticker “SMA”.
SmartStop Self Storage REIT Aims for $972M IPO
Updated May 25, 2025
SmartStop Self Storage REIT, based in Ladera Ranch, CA, is moving forward with its initial public offering. The company, which manages 208 self-storage properties across the U.S. and Canada, announced plans to raise as much as $972 million. The SmartStop IPO involves offering 27 million shares, with an expected price range of $28 to $36 per share.
Underwriters will have a 30-day option to purchase an additional 4,050,000 shares under the same terms. SmartStop intends to list its stock on the NYSE under the ticker symbol “SMA.”
The company plans to use the net proceeds from this IPO to redeem its outstanding Series A Preferred Stock. Funds will also reduce debt under its existing credit facility, pay off an acquisition facility, and support future property acquisitions. General corporate expenses will also be covered.
J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, Truist Securities, Baird, Stifel, National Bank of Canada, raymond James, and Scotia Capital are acting as joint bookrunners for the deal. The pricing is anticipated during the week of March 31, 2025.
What’s next
The SmartStop IPO could provide a meaningful boost to the company’s growth strategy, allowing for further expansion and debt reduction in the competitive self-storage market.