Essential Properties Realty Trust, Inc. Announces Public Offering Of Common Stock; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Essential Properties Realty Trust, Inc. (EPRT) has initiated an underwritten public offering of 8,000,000 shares of its common stock, with BofA Securities, Wells Fargo Securities, Truist Securities, and Mizuho as joint book-running managers. The offering includes forward sale agreements and an option for underwriters to purchase up to an additional 1,200,000 shares.
March 11, 2024 | 8:02 pm
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EPRT's public offering of 8,000,000 shares could dilute current shareholders but may also provide capital for growth. The involvement of major financial institutions as managers could signal confidence in the offering.
Public offerings often lead to short-term price volatility due to potential share dilution. However, the capital raised can be used for growth, and the involvement of reputable financial institutions as managers might mitigate negative perceptions.
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