CorEnergy Infrastructure Trust Prices Offering

CorEnergy Infrastructure Trust said Wednesday that it has priced its previously announced follow-on underwritten public offering of 2.8 million depository shares, with each share representing 0.01% of a share of its 7.375% series A cumulative redeemable preferred stock at an offering price of $25 per depository share for total expected gross proceeds of $70 million.

The underwriters have been granted a 30-day option to purchase up to 420,000 additional depository shares. The company intends to use the net proceeds for debt repayments and for general corporate purposes. The offering is expected to close on or about April 18, subject to customary closing conditions.

By Kristen Tardella