SCOTTSDALE, Ariz. -- (Business Wire)
STORE Capital Corporation (NYSE: STOR) (the “Company”), an internally
managed net-lease real estate investment trust (REIT) that invests in Single
Tenant Operational Real Estate, today
announced the pricing of an underwritten public offering of 8,650,000
shares of its common stock at a price to the public of $23.10 per share,
which was upsized from the previously announced offering of 7,600,000
shares of common stock. The Company granted the underwriters of the
offering a 30-day option to purchase up to 1,297,500 additional shares
of common stock from the Company. The offering is expected to close on
March 31, 2017, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering to repay
amounts outstanding under its unsecured revolving credit facility and to
fund property acquisitions subject to purchase contracts in the ordinary
course of business.
Goldman, Sachs & Co. and Morgan Stanley served as joint book-running
managers for the offering. BMO Capital Markets, Citigroup, KeyBanc
Capital Markets and Wells Fargo Securities served as lead managers for
the offering, andBaird, Capital One Securities, Ladenburg
Thalmann, Raymond James, Stifel and SunTrust Robinson Humphreyserved
as co-managers for the offering.
The offering of these securities will be made only by means of a
prospectus supplement and accompanying prospectus. A copy of the
preliminary prospectus supplement, final prospectus supplement (when
available) and the accompanying prospectus may be obtained from:
Goldman, Sachs & Co., via telephone: (866) 471-2526, email: prospectus-ny@ny.email.gs.com,
or standard mail: Goldman, Sachs & Co., 200 West Street, New York, NY
10282, Attention: Prospectus Department; and Morgan Stanley & Co. LLC,
via standard mail: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, NY 10014, Attention: Prospectus Department.
A registration statement relating to these securities became effective
upon filing with the Securities and Exchange Commission under the
Securities Act of 1933, as amended. 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 offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction.
About STORE Capital
STORE Capital Corporation is an internally managed net-lease REIT that
is the leader in the acquisition, investment and management of Single
Tenant Operational Real Estate, which is its
target market and the inspiration for its name. The Company is one of
the largest and fastest growing net-lease REITs and owns a
well-diversified portfolio that consists of investments in over 1,700
property locations, substantially all of which are profit-centers, in 48
states.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts may contain forward-looking statements. Forward-looking
statements can be identified by the use of words such as “estimate,”
“anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,”
“seek,” “approximate” or “plan,” or the negative of these words and
phrases or similar words or phrases. Forward-looking statements include
those relating to whether or not the proposed offering will be
consummated and the intended use of proceeds from the proposed offering.
Forward-looking statements, by their nature, involve estimates,
projections, goals, forecasts and assumptions and are subject to risks
and uncertainties that could cause actual results or outcomes to differ
materially from those expressed in the forward-looking statements. For
more information on risk factors for the Company’s business, please
refer to the periodic reports and prospectuses and prospectus
supplements it files with the SEC from time to time. These
forward-looking statements speak only as of the date of this press
release and should not be relied upon as predictions of future events.
The Company expressly disclaims any obligation or undertaking to update
or revise any forward-looking statements contained herein, to reflect
any change in the Company’s expectations with regard thereto, or any
other change in events, conditions or circumstances on which any such
statement is based, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170327006329/en/
Contacts:
Financial Profiles
Moira Conlon, 310-622-8220
STORECapital@finprofiles.com
Source: STORE Capital Corporation
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