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Strong Buy (3.50 out of 4)
100th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 7:41 AM
Slide #104. American Finance Trust, Inc. — Preferred Stock Offering
Company: |
American Finance Trust, Inc. (AFIN) |
Date announced: |
12/14/2020 |
Shares Offered: |
3,200,000 |
Date of Pricing: |
12/15/2020 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") today announced the launch of an underwritten public offering of its Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock"), under its existing shelf registration statement. The underwriters are expected to be granted a 30-day overallotment option to purchase additional shares of Series C Preferred Stock. -updated 12/15- American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") today announced the pricing of an underwritten public offering of 3,200,000 shares of its 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") at a gross offering price of $25.00 per share. In addition, the Company has granted the underwriters a 30-day overallotment option to purchase up to an additional 480,000 shares of Series C Preferred Stock. The Company has applied to list the shares of Series C Preferred Stock on the Nasdaq Global Select Market. The Series C Preferred Stock will have a $25.00 liquidation preference per share. |
American Finance Trust is a real estate investment trust. Co. focuses on acquiring and managing a portfolio of retail and distribution related commercial real estate properties. Co. owns a portfolio of commercial properties comprised primarily of freestanding single-tenant properties that are net leased to investment grade and other creditworthy tenants and a portfolio of multi-tenant retail properties consisting primarily of power centers and lifestyle centers. Substantially all of Co.'s business is conducted through American Finance Operating Partnership, L.P., and its wholly-owned subsidiaries. Preferred: AFINP
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