Plymouth Industrial REIT Makes Early Improvement to Balance Sheet with Conversion of Remaining Series B Preferred Stock

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Aug 22, 2022

Plymouth+Industrial+REIT%2C+Inc. (NYSE: PLYM) announced the Company has improved its balance sheet earlier than anticipated with the conversion of the remaining Series B Preferred Stock held by Madison International Realty (“Madison”) into approximately 1.9 million shares of common stock on a leverage-neutral basis. The Company also affirmed that with this earlier conversion and the execution of an interest rate swap for $150 million of notional unsecured debt, it still expects to report full year 2022 results within its previously issued guidance ranges.