Essential Properties Realty Trust, Inc. Announces Primary Public Offering of Common Stock
09 Janeiro 2020 - 06:02PM
Business Wire
Essential Properties Realty Trust, Inc. (NYSE: EPRT; the
“Company”) announced today that it has commenced an underwritten
public offering of 6,250,000 shares of its common stock. The
Company expects to grant the underwriters a 30-day option to
purchase up to an additional 937,500 shares of common stock. The
Company expects to use the net proceeds from the offering to
voluntarily prepay, without prepayment penalty, approximately $62.0
million of our outstanding Class A Series 2017-1 ABS Notes, to
repay outstanding borrowings under our revolving credit facility
and for general corporate purposes, including potential future
investments. All of the shares are being offered by the
Company.
Barclays, BofA Securities and Citigroup are acting as the joint
book-running managers of the offering.
The offering of the common stock is being made pursuant to the
Company’s effective shelf registration statement filed with the
Securities and Exchange Commission (the “SEC”). A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC. When available, a copy of the
preliminary prospectus supplement and accompanying prospectus
relating to the offering may be obtained from Barclays: c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, Telephone: (888) 603-5847, Email:
barclaysprospectus@broadridge.com; BofA Securities, NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn:
Prospectus Department, Email: dg.prospectus_requests@bofa.com;
Citigroup: c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, or by
visiting the EDGAR database on the SEC’s web site at
www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor will there be any sale of these
securities in any state or other jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. When used in this press
release, the words “expect” and “will,” or the negative of these
words, or similar words or phrases that are predictions of or
indicate future events and that do not relate solely to historical
matters, are intended to identify forward-looking statements. You
can also identify forward-looking statements by discussions of
strategy, plans or intentions. Forward-looking statements involve
numerous risks and uncertainties and you should not rely on them as
predictions of future events. Forward-looking statements depend on
assumptions, data or methods that may be incorrect or imprecise.
The Company does not guarantee that the transactions and events
described will happen as described (or that they will happen at
all). You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
press release. While forward-looking statements reflect the
Company’s good faith beliefs, they are not guarantees of future
performance. The Company undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect events or circumstances
after the date of this press release or to reflect the occurrence
of unanticipated events, except as required by law. In light of
these risks and uncertainties, the forward-looking events discussed
in this press release might not occur as described, or at all.
Additional information concerning factors that could cause
actual results to differ materially from these forward-looking
statements is contained from time to time in the Company’s SEC
filings. Copies of each filing may be obtained from the Company or
the SEC. Such forward-looking statements should be regarded solely
as reflections of the Company’s current plans and estimates. Actual
results may differ materially from what is expressed or forecast in
this press release.
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed
real estate company that acquires, owns and manages primarily
single-tenant properties that are net leased on a long-term basis
to companies operating service-oriented or experience-based
businesses. As of September 30, 2019, the Company had a portfolio
of 917 freestanding net lease properties with a weighted average
remaining lease term of 14.4 years and a weighted average rent
coverage ratio of 2.9x. As of the same date, the Company’s
portfolio was 100.0% leased to 199 tenants operating 233 different
concepts in 16 industries across 45 states.
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version on businesswire.com: https://www.businesswire.com/news/home/20200109005815/en/
Investor/Media: Essential Properties Realty Trust, Inc. Daniel
Donlan Senior Vice President, Capital Markets 609-436-0619
investors@essentialproperties.com
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