VEREIT, Inc. Announces Closing of Public Offering of Common Stock
PHOENIX, Aug. 10, 2016 /PRNewswire/ -- VEREIT, Inc. (NYSE: VER) ("VEREIT" or the "Company") announced today that it closed its previously announced public offering of common stock. The Company sold a total of 69,000,000 shares of common stock in the offering, which included the full exercise of the underwriters' option to purchase additional shares. The net proceeds to the Company from the offering are approximately $702.8 million, before offering expenses.
Barclays, Citigroup and Goldman, Sachs & Co. acted as the underwriters of the offering.
The Company intends to use the net proceeds received from this offering to repay amounts outstanding under its $300.0 million senior secured term loan facility and its $3.3 billion unsecured credit facility and for general corporate purposes. The offering was made pursuant to a prospectus supplement to the Company's prospectus, dated May 6, 2016, filed as part of the Company's effective shelf registration statement relating to these securities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any such offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.
Copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email: [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; and Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected].
About the Company
VEREIT owns and actively manages a diversified portfolio of retail, restaurant, office and industrial real estate assets located in 49 states, as well as the District of Columbia, Puerto Rico and Canada. Additionally, VEREIT manages $7.0 billion of gross real estate investments on behalf of the Cole Capital® non-listed REITs.
Forward-Looking Information
Information set forth in this press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which reflect the expectations of the Company, including, but not limited to, the Company's anticipated use of net proceeds from the offering. The forward-looking statements involve a number of assumptions, risks, uncertainties and other factors, which may be difficult to predict and beyond the control of the Company, which could cause actual results to differ materially from those contained in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the actual use of proceeds from the offering; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Logo - http://photos.prnewswire.com/prnh/20150727/246034LOGO
SOURCE VEREIT, Inc.
Share this article