PHOENIX—Spirit Realty Capital, Inc., a real estate investment trust that invests in single-tenant, operationally essential real estate, announces that it has filed with the Securities and Exchange Commission a prospectus supplement under which it may sell shares of its common stock having an aggregate gross sales price of up to $350 million through an “at-the-market” equity offering program.
The proceeds of the offering will be used for general corporate purposes, which may include repaying amounts outstanding from time to time under Spirit Realty's revolving credit facility, working capital and capital expenditures, and potential future acquisitions.
The offering will occur pursuant to an equity distribution agreement entered into by Spirit Realty and Spirit Realty, L.P. with Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets and SunTrust Robinson Humphrey, as sales agents.
Sales, if any, may be made in transactions that are deemed to be “at the market offerings,” including sales made by means of ordinary brokers' transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or negotiated prices.
Spirit Realty declined to comment further on the matter.
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