XML 30 R19.htm IDEA: XBRL DOCUMENT v3.21.2
Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events.  
Subsequent Events

11.    Subsequent Events

In accordance with FASB ASC 855, “Subsequent Events,” INDUS has evaluated all events or transactions occurring after September 30, 2021, the balance sheet date, and noted that there have been no such events or transactions which would require recognition or disclosure in the consolidated financial statements as of and for the period ended September 30, 2021, other than the disclosures herein.

On October 8, 2021, INDUS completed an underwritten public offering of 2,150,000 shares of its Common Stock at a price to the underwriters of $62.70 per share. On October 22, 2021, the underwriters exercised their option to purchase an additional 293,228 shares of Common Stock from INDUS at the same price (see Note 2).

On October 12, 2021, INDUS closed on the purchase of an approximately 128,000 square foot fully leased, industrial/logistics building in Charlotte, North Carolina for a purchase price of $14,600.

On October 27, 2021, the Company entered into an agreement (the “South Carolina Purchase Agreement”) to acquire, for a purchase price of approximately $28,600, before transaction costs, an industrial/logistics building in South Carolina that is partially leased. The closing of the acquisition contemplated under the South Carolina Purchase Agreement is expected to take place in the 2021 fourth quarter. Completion of the acquisition contemplated under the South Carolina Purchase Agreement is subject to a number of contingencies. There is no guarantee that the purchase contemplated under the South Carolina Purchase Agreement will be completed under its current terms, or at all.

On November 3, 2021, the Company entered into an agreement (the “Charleston Forward Purchase Agreement”) to acquire, for a purchase price of $28,000, before transaction costs, an approximately 263,000 square foot industrial/logistics building in Charleston, South Carolina to be built by the seller. Closing on the Charleston Forward Purchase Agreement is subject to a number of contingencies including completion of construction. There can be no guarantee that the Charleston Forward Purchase Agreement will be completed under its current terms, or at all.