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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 19, 11:26 AM
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Slide #237. Spirit Realty Capital, Inc. — Preferred Stock Offering
Company:
Spirit Realty Capital, Inc. (SRC)
Date announced:
9/27/2017
Shares Offered:
6,000,000
Date of Pricing:
9/27/2017
Price Per Share:
$25.00
Preferred Stock Offering Details:
Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company") announced today that it has priced an underwritten public offering of 6,000,000 shares of 6.000% Series A Cumulative Redeemable Preferred Stock with a liquidation preference of $25.00 per share for net proceeds of $144.8 million after deducting the underwriting discount and the Company's estimated expenses. The Company has also granted the underwriters a 30-day option to purchase from the Company up to an additional 900,000 shares of 6.000% Series A Cumulative Redeemable Preferred Stock.
Spirit Realty Capital is a self-administered and self-managed real estate investment trust with in-house capabilities, including acquisition, credit research, asset management, portfolio management, real estate research, legal, finance and accounting functions. Co. primarily invests in single-tenant, operationally essential real estate assets throughout the U.S., which are subsequently leased on a long-term, triple-net basis to tenants with operations in retail, industrial and certain other industries. Co.'s operations are carried out through its operating partnership, Spirit Realty, L.P.
Preferred: SRC.PRA
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Avg. Broker Rec.
  
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Hold (2.14 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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