Lineage

General Information
Business:

We are the world’s largest global temperature-controlled warehouse REIT, with a modern and strategically located network of properties.(Incorporated in Delaware)

Lineage serves more than 13,000 of the largest food and beverage retailers, manufacturers, processors and food service distributors.

Our business is competitively positioned to deliver a seamless end-to-end, technology-enabled, customer experience for thousands of customers, each with their own unique requirements in the temperature-controlled supply chain. As of March 31, 2024, we operated an interconnected global temperature-controlled warehouse network, comprising over 84.1 million square feet and 3.0 billion cubic feet of capacity.

 

Note: Net loss and revenue are for the 12 months that ended March 31, 2024.

(Note: Lineage priced its IPO at $78.00 – above the mid-point of its range – and increased its IPO’s size to 56.9 million shares (56.88 million shares) – up from 47.0 million – to raise $4.44 billion (about $4,438.2 million) on Wednesday night, July 24, 2024, Lineage said in a pricing news release distributed at 8:32 p.m. EDT.)

(Note: Reuters and Bloomberg have reported that Lineage priced its REIT IPO at $78.00 – above the $76.00 mid-point of its $70.00-to-$82.00 range – and the IPO’s size was increased to just under 57 million shares – up from 47 million shares in the prospectus – to raise about $4.45 billion ($4,446.0 million) on Wednesday night, July 24, 2024. The company had not issued an official pricing statement online as of around 7:37 p.m. EDT.)

(Note: Lineage disclosed the terms for its REIT IPO on July 16, 2024, in an S-11/A filing: 47.0 million shares at a price range of $70.00 to $82.00 to raise $3.57 billion, if priced at the $76.00 mid-point of its range. Background: Lineage filed its S-11 on June 28, 2024, without disclosing terms for its REIT IPO. (Note: REIT stands for real estate investment trust.) The estimated proceeds figure of $100 million was a placeholder. Some IPO pros estimated that this IPO could raise as much as $3.5 billion in proceeds.)

 

Industry: REIT - Industrial
Employees: 26127
Founded: 2012
Contact Information
Address 46500 Humboldt Drive Novi, MI 48377
Phone Number (800) 678-7271
Web Address http://www.onelineage.com/
View Prospectus: Lineage
Financial Information
Market Cap $19000.0mil
Revenues $5300.0 mil (last 12 months)
Net Income $-162.8 mil (last 12 months)
IPO Profile
Symbol LINE
Exchange NASDAQ
Shares (millions): 56.9
Price range $78.00 - $78.00
Est. $ Volume $4438.2 mil
Manager / Joint Managers Morgan Stanley/Goldman Sachs/BofA Securities/J.P. Morgan/Wells Fargo Securities/RBC Capital Markets/Rabo Securities/Scotia Capital/UBS Investment Bank/Capital One Securities/Truist Securities/Evercore ISI/Baird/KeyBanc Capital Markets/Mizuho Securities/PNC Capital Markets/Deutsche Bank/HSBC/Piper Sandler/Regions Securities
CO-Managers Blaylock Van, LLC/Cabrera Capital Markets LLC/C.L. King & Associates/Drexel Hamilton/Guzman & Company/Loop Capital Markets/Roberts & Ryan/R. Seelaus & Co., LLC
Expected To Trade: 7/25/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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