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ap

Sovran prices offering of 3.5M shares

Sovran Self Storage prices stock offering at $29.75

  • On 1:52 pm EDT, Wednesday September 30, 2009

BUFFALO, N.Y. (AP) -- Sovran Self Storage Inc., a real estate investment trust, on Wednesday priced its public offering of 3.5 million shares of common stock at $29.75 each.

After expenses, the offering is expected to raise $98.8 million. Proceeds will be used to repay debt and for general corporate purposes.

The self-storage facilities manager said the offering is expected to close Oct. 5.

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