Business Wire·Nov 9, 2026, 9:51 PM ET

SmartStop Self Storage REIT Announces Pricing of Upsized Offering of Common Stock

SmartStop Self Storage REIT, Inc. priced an underwritten public offering of 8,150,000 shares of common stock at $37.00 per share, upsizing from a previous 7,000,000 share plan.
The offering is expected to close on November 12, 2026, subject to customary closing conditions.
J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, & Truist Securities serve as joint book-running managers, with several other firms acting as bookrunners & co-managers.
SmartStop entered into forward sale agreements with affiliates of J.P. Morgan & Wells Fargo Securities covering the full 8,150,000 shares.
Underwriters have a 30-day option to purchase up to an additional 1,222,500 shares, potentially raising the total offering size to 9,372,500 shares.
SmartStop does not receive initial proceeds from the forward purchasers' sale of shares but intends to use proceeds from the physical settlement of these agreements, expected by September 30, 2028.
Net proceeds are intended to fund pending investments, including a Canadian joint venture & acquisitions, repay credit facilities & loans, & for general corporate purposes.
As of September 30, 2026, SmartStop operates a portfolio of approximately 475 properties across 36 U.S. states, the District of Columbia, & five Canadian provinces.