U-Store-It prices common share offering

U-Store-It prices offering

NEW YORK — U-Store-It Trust said Thursday that it has priced the public offering of 28 million shares of its common stock to the public at $5.25 per share.

The company has also granted up to 4.2 million shares to cover overallotments.

The storage company said it expects more than $140 million in net proceeds, which it will use to repay debt and for general corporate purposes.

Shares of U-Store-It fell 37 cents to close at $5.41 Thursday.