Todd Thomas

Brendan Lynch

Eric Borden

Richard Anderson

Michael Mueller

Mitch Germain

Nicholas Thillman

Anthony Hau

John Kim

Nikita Bely

- **Plymouth Industrial REIT** is being acquired in a **$2.1 billion** all-cash deal by entities affiliated with **Makarora Management LP** and **Ares Alternative Credit funds**.  **[1515816_269992435d0b4e07afee27ac6b4262a4]** 
- The purchase price is **$22 per share**, which represents a **50% premium** over the stock's unaffected price in August 2025.  **[1515816_269992435d0b4e07afee27ac6b4262a4]** 
- The transaction, unanimously approved by Plymouth's Board of Directors, includes a **30-day go-shop period** ending **November 23, 2025**, and is expected to close in **early 2026**.  **[1515816_269992435d0b4e07afee27ac6b4262a4]** 
- Plymouth operates a portfolio of **Class B industrial properties** and has an **Altman Z-Score of 0.86**, indicating concerns over its financial strength.  **[1515816_269992435d0b4e07afee27ac6b4262a4]**

Plymouth Industrial REIT Agrees to $2.1 Billion Take-Private Deal

- Plymouth Industrial REIT, Inc. (PLYM) has entered into a definitive merger agreement to be acquired by entities affiliated with Makarora Management LP and Ares Alternative Credit funds for **$22.00 per share** in an all-cash transaction, valuing the company at approximately **$2.1 billion** including assumed debt.  **[1515816_0001193125-25-250015_plym-ex99_1.htm:0]** 
- The **$22.00 per share** purchase price represents a premium of approximately **50%** to Plymouth's unaffected closing common stock price on August 18, 2025.  **[1515816_0001193125-25-250015_plym-ex99_1.htm:0]** 
- The transaction, unanimously approved by Plymouth's Board of Directors, is expected to close in **early 2026** and includes a **30-day "go-shop" period** expiring on **November 23, 2025**.  **[1515816_0001193125-25-250015_plym-ex99_1.htm:0]** 
- Plymouth will pay its **third quarter dividend on October 31, 2025**, but generally will not pay other dividends during the merger agreement term, except as required to maintain its REIT status.  **[1515816_0001193125-25-250015_plym-ex99_1.htm:0]** 
- Upon completion of the transaction, Plymouth will become a **private company** and its common stock will be de-registered from the NYSE.  **[1515816_0001193125-25-250015_plym-ex99_1.htm:0]**

Plymouth Industrial REIT to be Acquired by Makarora and Ares

Plymouth Industrial REIT (PLYM)