Essential Properties Realty Prices Upsized Public Offering 9 Mln Shares At $24.75/share

(RTTNews) - Essential Properties Realty Trust, Inc. (EPRT) said that it has priced a public offering of 9,000,000 shares at $24.75 per share.

The offering, expected to be closed on March 14, was upsized from the previously announced offering size of 8,000,000 shares.

The company has granted underwriters a 30-day option to purchase up to an additional 1,350,000 shares.  

In connection with the offering, Essential Properties has entered into forward sale agreements with BofA Securities, Wells Fargo Securities, Truist Securities, and Mizuho.

The company will not receive any proceeds from the sale by the forward purchasers.

"The company intends to contribute any net proceeds from the settlement of the forward sale agreements to the company's operating partnership in exchange for OP units, and the operating partnership intends to use such net proceeds for general corporate purposes, including potential future investments," the company said.