Extra Space Storage Files Routine 8-K on Jan 16 Event
Ticker: EXR · Form: 8-K · Filed: Jan 17, 2024 · CIK: 1289490
| Field | Detail |
|---|---|
| Company | Extra Space Storage INC. (EXR) |
| Form Type | 8-K |
| Filed Date | Jan 17, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $600 million |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: routine-filing, corporate-governance, 8-K
TL;DR
**Extra Space Storage filed a routine 8-K, nothing major to see here.**
AI Summary
Extra Space Storage Inc. filed an 8-K on January 17, 2024, reporting an event that occurred on January 16, 2024. This filing is a routine disclosure under 'Other Events' and 'Financial Statements and Exhibits,' indicating no major new financial or operational news. For investors, this means there's no immediate significant positive or negative catalyst from this specific filing, suggesting business as usual for the company.
Why It Matters
This filing is a standard procedural update, indicating no new material information that would immediately impact the stock price or investment thesis for Extra Space Storage Inc. It's a 'business as usual' signal.
Risk Assessment
Risk Level: low — The filing is a standard disclosure with no specific financial or operational details that would introduce new risks.
Analyst Insight
A smart investor would note this as a routine filing and look for more substantive news, such as earnings reports or major corporate actions, to make investment decisions regarding Extra Space Storage Inc.
Key Players & Entities
- Extra Space Storage Inc. (company) — the registrant filing the 8-K
- January 16, 2024 (date) — date of the earliest event reported
- January 17, 2024 (date) — date the 8-K was filed
- EXR (company) — trading symbol for Extra Space Storage Inc.
- New York Stock Exchange (company) — exchange where EXR common stock is registered
FAQ
What is the purpose of this 8-K filing by Extra Space Storage Inc.?
This 8-K filing is a 'Current Report' pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, reporting 'Other Events' and 'Financial Statements and Exhibits' as per the ITEM INFORMATION.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 16, 2024, as stated in the 'Date of Report (Date of Earliest Event Reported)' section.
What is the trading symbol and exchange for Extra Space Storage Inc.'s common stock?
Extra Space Storage Inc.'s common stock trades under the symbol EXR and is registered on the New York Stock Exchange, as indicated under 'Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934'.
Is Extra Space Storage Inc. considered an emerging growth company according to this filing?
The filing indicates with an unchecked box ('☐') that the registrant is NOT an emerging growth company, as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
What is the state of incorporation for Extra Space Storage Inc.?
Extra Space Storage Inc. is incorporated in Maryland, as specified under 'State or Other Jurisdiction of Incorporation'.
Filing Stats: 786 words · 3 min read · ~3 pages · Grade level 12.1 · Accepted 2024-01-17 16:04:00
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value EXR New York Stock Exchan
- $600 million — t to an underwritten public offering of $600 million aggregate principal amount of the Issue
Filing Documents
- d694891d8k.htm (8-K) — 26KB
- d694891dex11.htm (EX-1.1) — 192KB
- d694891dex991.htm (EX-99.1) — 9KB
- g694891dsp50.jpg (GRAPHIC) — 21KB
- 0001193125-24-009242.txt ( ) — 428KB
- exr-20240116.xsd (EX-101.SCH) — 3KB
- exr-20240116_lab.xml (EX-101.LAB) — 18KB
- exr-20240116_pre.xml (EX-101.PRE) — 11KB
- d694891d8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events. On January 16, 2024, Extra Space Storage LP (the "Issuer"), Extra Space Storage Inc. (the "Company"), ESS Holdings Business Trust I ("EHBT I") and ESS Holdings Business Trust II ("EHBT II" and, together with the EHBT I and the Company, the "Guarantors") entered into an underwriting agreement (the "Underwriting Agreement") with Wells Fargo Securities, LLC, TD Securities (USA) LLC and BofA Securities, Inc., as representatives of the several underwriters named therein (the "Underwriters"), with respect to an underwritten public offering of $600 million aggregate principal amount of the Issuer's 5.400% senior notes due 2034 (the "Notes"). The Notes will be fully and unconditionally guaranteed by the Guarantors. The description of the Underwriting Agreement in this Current Report on Form 8-K is a summary and is qualified in its entirety by the full text of the Underwriting Agreement. The press release announcing the pricing of the Notes is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Certain of the Underwriters and their affiliates have engaged in, and may in the future engage in from time to time, investment banking and other commercial dealings in the ordinary course of business with the Company, for which they have received customary fees and commissions. In addition, affiliates of certain of the Underwriters are lenders under the Company's secured line of credit and/or senior unsecured line of credit. The Company intends to use approximately half of the net proceeds from the offering to repay a portion of its term loan under its Third Amended and Restated Credit Agreement, dated as of June 22, 2023, and use the remainder of the net proceeds to repay amounts outstanding from time to time under its lines of credit, and for other general corporate and working capital purposes, including funding potential acquisition opportunities. To the extent that the Company uses any of the net proceeds
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 1.1 Underwriting Agreement, dated January 16, 2024, among Extra Space Storage Inc., Extra Space Storage LP, ESS Holdings Business Trust I, ESS Holdings Business Trust II, and Wells Fargo Securities, LLC, TD Securities (USA) LLC and BofA Securities, Inc., as representatives of the several underwriters named therein. 99.1 Press Release issued by Extra Space Storage Inc. on January 16, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXTRA SPACE STORAGE INC. Date: January 17, 2024 By /s/ Gwyn McNeal Name: Gwyn McNeal Title: Executive Vice President and Chief Legal Officer