SCOTTSDALE, AZ—A follow-on public offering of 16,100,000 shares of common stock sold, including 2,100,000 shares of common stock sold by the selling stockholder, STORE Holding Company LLC, in connection with the full exercise of the underwriters' option to purchase additional shares, at a public offering price of $22.00 per share, has been completed. Total net proceeds, after the underwriting discount and offering expenses, are expected to be approximately $296.2 million.

The equity issuance, together with a small sale of shares by founding institutional shareholders led by Oaktree Capital, will also importantly serve to alter the composition of the board of directors, placing a plurality of board seats in the hands of independent directors and management, says STORE Capital Corporation.

Christopher Volk, chief executive officer of STORE tells GlobeSt.com: "This equity raise is an important milestone for STORE. It represents our second equity follow-on issuance since our IPO a little over a year ago and is also our first overnight equity issuance. The proceeds will be immediately used to repay short-term revolving debt and put us in good shape to execute our planned growth in 2016. Over the past year, we have taken a number of strategic steps to expand our access to capital, both debt and equity, and to keep an efficient and flexible capital structure. In combination with our A+ rated long-term debt conduit master funding solutions, our large pool of unencumbered assets, our recent $175 million private offering of investment grade-rated senior unsecured notes, and $800 million in borrowing capacity on our recently expanded credit facility, the proceeds from these equity offerings put us in a strong position to meet continued demand for our flexible net-lease financing solutions and to deliver strong returns to our shareholders."