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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, March 28, 9:43 AM
Slide #164. American Finance Trust, Inc. — Preferred Stock Offering
Company: |
American Finance Trust, Inc. (AFIN) |
Date announced: |
3/22/2019 |
Shares Offered: |
1,200,000 |
Date of Pricing: |
3/22/2019 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") today announced the pricing of an underwritten public offering of 1,200,000 shares of its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") at a gross offering price of $25.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 180,000 shares of Series A Preferred Stock. The Company has applied to list the shares of Series A Preferred Stock on the Nasdaq Global Select Market. The Series A 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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