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EXTRA SPACE STORAGE INC. : Other Events, Financial Statements and Exhibits (form 8-K)

09/14/2021 | 05:15pm EDT

Item 8.01 Other Events.

On September 13, 2021, 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 and PNC Capital Markets LLC, 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 2.350% senior notes due 2032 (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, certain of the Underwriters and/or their affiliates are lenders under the Company's secured line of credit and/or its senior unsecured line of credit. The Company intends to use the net proceeds from the offering to fund potential acquisition opportunities, to repay amounts outstanding from time to time under its lines of credit, and for other general corporate and working capital purposes, and to the extent that the Company uses any of the net proceeds from the offering to repay indebtedness, such Underwriters or their affiliates will receive their proportionate share of any amount of the outstanding borrowings that is repaid with the net proceeds from the offering.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number                                    Description

1.1            Underwriting Agreement, dated September 13, 2021, among Extra Space
             Storage Inc., Extra Space Storage LP, ESS Holdings Business Trust I,
             ESS Holdings Business Trust II, and Wells Fargo Securities, LLC and
             PNC Capital Markets LLC, as representatives of the several
             underwriters named therein.

99.1           Press Release issued by Extra Space Storage Inc. on September 13,

104          Cover Page Interactive Data File (embedded within the Inline XBRL



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