The post office goes public: Postal Realty Trust sets terms for $100 million IPO

Postal Realty Trust, a recently-formed REIT that manages and leases properties to the USPS, announced terms for its IPO on Tuesday.

The Cedarhurst, NY-based company plans to raise $100 million by offering 5.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Postal Realty Trust would command a fully diluted market value of $144 million.

Postal Realty Trust was founded in 2018 and booked $8 million in revenue for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol PSTL. Stifel, Janney Montgomery Scott, BMO Capital Markets and Height Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.

Relevant Profiles: PSTL, REIT

https://www.renaissancecapital.com/IPO-Center/News/62944/The-post-office-goes-public-Postal-Realty-Trust-sets-terms-for-$100-million