DALLAS— NetSTREIT Corp. today announced the closing of a private offering of 11,797,645 shares of its common stock at a price of $19.75 per share, which includes 2,936,985 shares sold upon full exercise of the initial purchaser’s option to purchase or place additional shares of common stock. NetSTREIT received gross proceeds, before deducting the initial purchaser’s discount and placement fee and other estimated offering expenses payable by NetSTREIT, of approximately $233 million. NetSTREIT intends to use the proceeds from the offering for the acquisition of properties in its investment pipeline and other potential acquisitions and for general corporate and working capital purposes.
The offering was conducted pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”). The shares of common stock were sold in the United States only to Qualified Institutional Buyers as permitted under Rule 144A of the Securities Act or in reliance on Regulation D under the Securities Act, or outside the United States to certain persons in reliance on Regulation S under the Securities Act. The common stock has not been registered under the Securities Act and may not be sold in the United States absent registration or an exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
NetSTREIT is a Real Estate Investment Trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high- quality properties leased to e-commerce resistant tenants with healthy balance sheets. Led by a management team of seasoned commercial real estate executives, NetSTREIT aims to create the highest quality net lease retail portfolio in the country in order to generate consistent cash flows and dividends for its investors.