REIT Global Net Lease announces common stock offering to fund latest acquisitions
Real estate investment trust Global Net Lease Inc (NYSE:GNL) has announced an offering of common stock, just days after closing on a multi-million dollar deal.
The REIT plans to offer 4 million shares of its common stock for an undetermined price. Underwriters are expected to be granted a 30-day option to purchase an additional 600,000 shares of common stock.
The proceeds will be used to fund general corporate purposes as well as its recent acquisitions.
The company announced Tuesday that it had closed on a Class A office building in Texas and an industrial facility leased to Rubbermaid Inc for a total of US$75.4mln.
Global Net Lease has closed on US$236.4mln in acquisitions this year, more than halfway to its US$372.3mln pipeline.
Shares of the New York-based company fell more than 7% to US$20.52 in Thursday pre-market trading.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/203073/reit-global-net-lease-announces-common-stock-offering-to-fund-latest-acquisitions-203073.html
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