Lineage in Novi Announces Intent to Take Company Public

Novi-based Lineage, the world’s largest global temperature-controlled warehouse real estate investment trust, has filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission to sell shares of its common stock in an underwritten initial public offering.

The timing, number of shares that may be offered, and the price range for the proposed offering have not yet been determined. The company says it intends to apply to list its common stock on the Nasdaq Global Select Market under the ticker symbol “LINE.”

The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, according to Lineage.

Morgan Stanley, Goldman Sachs & Co., BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as joint lead book-running managers for the proposed offering.

RBC Capital Markets, Rabo Securities USA Inc., Scotia Capital (USA) Inc., UBS Securities, Capital One Securities Inc., Truist Securities Inc., Evercore Group L.L.C., Robert W. Baird & Co. Inc., KeyBanc Capital Markets Inc., Mizuho Securities USA, PNC Capital Markets, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Piper Sandler & Co., and Regions Securities LLC are acting as joint book-running managers for the proposed offering.

Blaylock Van, Cabrera Capital Markets, C.L. King & Associates Inc., Drexel Hamilton, Guzman & Co., Loop Capital Markets, Roberts & Ryan Investments Inc., and R. Seelaus & Co. are acting as co-managers.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained from the Morgan Stanley Prospectus Department, 180 Varick Street, New York, N.Y. or by email: prospectus@morganstanley.com .

Lineage has built a network of more than 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific.

Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage companies to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most important, feed the world.

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