Feb. 12 at 4:27 PM
Netstreit priced an upsized follow-on equity offering at about
$209 million, selling 10.98 million shares at
$19 each, a 1.3% discount to the prior close. The deal was increased from the originally planned 8.75 million shares.
The Dallas-based retail REIT entered into one-year forward sale agreements with Wells Fargo and Bank of America, allowing it to lock in the current share price while delaying share issuance and proceeds, thereby avoiding immediate dilution.
Once settled, proceeds will be used for general corporate purposes, including debt repayment, property acquisitions, and development. Stifel noted the offering could reach 12.63 million shares, including the greenshoe option, for gross proceeds of about
$240 million, adding that 2026 guidance may be raised later this year.
$NTST