Prologis, Inc. (NYSE:PLD) (the "Company" or "Prologis") announced today the commencement of an underwritten public offering of 15,000,000 shares of its common stock.

J.P. Morgan and BofA Securities are acting as the underwriters for the offering.

The Company expects to grant the underwriters a 30-day option, exercisable in whole or in part from time to time, to purchase up to an additional 2,250,000 shares of the Company's common stock solely to cover overallotments in connection with the offering.

The Company intends to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds from the offering for general corporate purposes, including to fund potential acquisitions such as SEGRO plc ("SEGRO"). There can be no assurance that the Company will complete the SEGRO combination on the proposed terms, on the anticipated timeline, or at all.