Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, September 21, 11:12 AM
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Slide #3. American Finance Trust, Inc. — Preferred Stock Offering
American Finance Trust, Inc. (NASDAQ:AFINP)
Preferred Stock Offering Details:
American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") today announced the launch of an underwritten public offering of its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock"), under its existing shelf registration statement. The underwriters are expected to be granted a 30-day overallotment option to purchase additional shares of Series A Preferred Stock. This offering is a reopening of the Company's previous issuances of Series A Preferred Stock. The additional shares of Series A Preferred Stock sold in this offering will be consolidated, form a single series, and be fully fungible with all outstanding Series A Preferred Stock. The Series A Preferred Stock is listed on the Nasdaq Global Select Market under the symbol "AFINP."
American Finance Trust is a real estate investment trust with a retail focus. Co.'s retail focus is comprised of commercial properties which are net leased primarily to investment grade and other creditworthy tenants and, as a result of the merger of American Realty Capital Retail Operating Partnership, L.P. with and into Co.'s operating partnership, American Finance Operating Partnership, L.P., a portfolio of retail properties, consisting primarily of power centers and lifestyle centers. Substantially all of Co.'s business is conducted through American Finance Operating Partnership, L.P. and its wholly-owned subsidiaries.
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