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BOSTON–(BUSINESS WIRE)–Plymouth Industrial REIT, Inc. (NYSE American: PLYM) (the “Company”)
today announced the pricing of its underwritten registered public
offering of 3,000,000 shares of its common stock at a public offering
price of $17.50 per share. The Company granted the underwriters a 30-day
option to purchase up to an additional 450,000 shares of its common
stock. The offering is expected to close on May 20, 2019, subject to the
satisfaction of certain customary closing conditions.

Net proceeds of the offering to the Company are expected to be
approximately $49.15 million, after deducting underwriting commissions
and offering expenses payable by the Company. Plymouth intends to use
the net proceeds from this offering to repay, in whole or in part,
amounts outstanding under its secured revolving credit facility, to fund
acquisitions and for general corporate purposes.

Barclays and KeyBanc Capital Markets acted as joint book-running
managers for the offering, D.A. Davidson & Co. acted as lead manager for
the offering and BB&T Capital Markets, National Securities Corporation,
a wholly owned subsidiary of National Holdings, Inc., Sandler O’Neill +
Partners, L.P. and Wedbush Securities Inc. acted as co-managers for the

The shares were offered pursuant to an effective shelf registration
statement on Form S-3 filed with the Securities and Exchange Commission.
A copy of the preliminary prospectus supplement relating to this
offering was filed with the Securities and Exchange Commission on May
15, 2019, and a final prospectus supplement relating to the offering
will be filed with the Securities and Exchange Commission. The offering
may be made only by means of a prospectus supplement and accompanying
prospectus. Copies of the prospectus supplement, when available, and
accompanying prospectus relating to the offering may be obtained by
contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, telephone: 1-888-603-5847 or by
emailing [email protected].com.

The press release shall not constitute an offer to sell or a
solicitation to buy these securities, nor shall there be any sale of
these securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or

About Plymouth

Plymouth Industrial REIT, Inc. is a vertically integrated and
self-managed real estate investment trust focused on the acquisition and
operation of single and multi-tenant industrial properties located in
secondary and select primary markets across the United States. The
Company seeks to acquire properties that provide income and growth that
enable the Company to leverage its real estate operating expertise to
enhance shareholder value through active asset management, prudent
property re-positioning and disciplined capital deployment.

Forward-Looking Statements

This press release includes “forward-looking statements” that are made
pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933 and of Section 21E of the Securities Exchange Act of 1934.
The forward-looking statements in this release do not constitute
guarantees of future performance. Investors are cautioned that
statements in this press release, which are not strictly historical
statements, including, without limitation, statements regarding the
anticipated use of proceeds, constitute forward-looking statements. Such
forward-looking statements are subject to a number of known and unknown
risks and uncertainties that could cause actual results to differ
materially from those anticipated by the forward-looking statement, many
of which may be beyond our control. Forward-looking statements generally
can be identified by the use of forward-looking terminology such as
“may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,”
“anticipate,” “believe” or “continue” or the negative thereof or
variations thereon or similar terminology. Any forward-looking
information presented herein is made only as of the date of this press
release, and we do not undertake any obligation to update or revise any
forward-looking information to reflect changes in assumptions, the
occurrence of unanticipated events, or otherwise.


Tripp Sullivan
SCR Partners
(615) 760-1104
[email protected]