Essential Properties Realty Trust, Inc. Announces Closing of Primary Public Offering of Common Stock & Exercise of Underwrite...
14 Janeiro 2020 - 06:29PM
Business Wire
Essential Properties Realty Trust, Inc. (NYSE: EPRT; the
“Company”) announced today the closing of an underwritten public
offering of 7,935,000 shares of its common stock at a public
offering price of $25.20 per share, including 1,035,000 shares
purchased by the underwriters pursuant to their exercise, in full,
of an option to purchase additional shares. The Company received
net proceeds from the offering (after payment of expected expenses)
of approximately $191.5 million and expects to use such net
proceeds to voluntarily prepay, without prepayment penalty,
approximately $62.0 million of its outstanding Class A Series
2017-1 ABS Notes, to repay outstanding borrowings under its
revolving credit facility and for general corporate purposes,
including potential future investments.
Barclays, BofA Securities, Citigroup, Goldman Sachs & Co.
LLC and SunTrust Robinson Humphrey acted as the joint book-running
managers of the offering. Capital One Securities, Stifel, Mizuho
Securities, Credit Suisse, RBC Capital Markets, Evercore ISI
and Ladenburg Thalmann acted as the co-managers of the
offering.
The offering was made only by means of a prospectus supplement
and prospectus forming part of an effective shelf registration
statement previously filed with the Securities and Exchange
Commission (the “SEC”).
A copy of the final prospectus supplement may be obtained free
of charge from 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/20200114005842/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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