American Finance Belief Announces Profitable Completion Of Series C Cumulative Redeemable Perpetual Most well-liked Inventory Presenting | News
3 min readNEW YORK, Dec. 21, 2020 /PRNewswire/ — American Finance Have faith in, Inc. (Nasdaq: AFIN) (“AFIN” or the “Firm”) introduced currently the productive closing of its formerly introduced community featuring of 7.375% Collection C Cumulative Redeemable Perpetual Favored Inventory (the “Collection C Most popular Stock”). 3,535,700 shares ended up issued at the closing (including 335,700 shares from the underwriters’ exercising of their overallotment solution to order supplemental shares). The Collection C Most well-liked Stock will trade on the Nasdaq beneath the ticker symbol AFINO and has a $25.00 liquidation choice for each share. The Organization intends to use the net proceeds from this providing for common company applications, which may possibly include things like buys of further houses.
“We are delighted with the initial buying and selling and trader desire for the new situation, both exceeding our anticipations. The e-book was oversubscribed, allowing us to increase around $88 million, which include the proceeds from the overallotment choice, and price the shares at a lessen helpful dividend charge than the level on our prior giving of Series A most well-liked inventory,” reported Michael Weil, CEO of AFIN. “The web proceeds of the providing will help us capitalize on high good quality, necessity-based acquisition opportunities we see in the market. As we conclude this historic year, we are targeted on closing acquisitions and constructing a sturdy ahead acquisition pipeline. Our portfolio of financial commitment quality or implied financial commitment grade tenants, leases with very long durations, and emphasis on diligent underwriting have authorized AFIN to perform well all through the COVID-19 pandemic and crank out considerable momentum that we hope to have into 2021.”
About American Finance Have confidence in, Inc.
American Finance Belief, Inc. (Nasdaq: AFIN) is a publicly traded actual estate expense belief detailed on the Nasdaq focused on attaining and running a diversified portfolio of mostly services-oriented and common retail and distribution similar professional genuine estate attributes in the U.S. Added facts about AFIN can be observed on its site at www.americanfinancetrust.com.
Important Notice
The statements in this press launch that are not historical points may possibly be ahead-hunting statements. These ahead-wanting statements contain hazards and uncertainties that could trigger the outcome to be materially diverse. In addition, text these as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should” or very similar expressions show a ahead-seeking statement, while not all ahead-seeking statements include these terms. These forward-hunting statements are matter to dangers, uncertainties and other aspects, lots of of which are outside of AFIN’s manage, which could lead to actual final results to differ materially from the outcomes contemplated by the forward-looking statements. These pitfalls and uncertainties involve the prospective adverse outcomes of the ongoing world-wide COVID-19 pandemic, which include actions taken to incorporate or take care of COVID-19, on AFIN, AFIN’s tenants and the world wide economic climate and economical marketplaces and that the facts about lease collections may possibly not be indicative of any potential interval, as properly as people established forth in the Chance Things portion of AFIN’s most recent Annual Report on Type 10-K for the yr ended December 31, 2019 filed on February 27, 2020, AFIN’s most recent Quarterly Stories on Sort 10-Q for the quarters finished March 31, 2020, June 30, 2020, and September 30, 2020, filed on May 7, 2020, August 6, 2020, and November 5, 2020, respectively, and all other filings submitted with the Securities and Trade Fee soon after that day. Even more, ahead-wanting statements converse only as of the day they are created, and AFIN undertakes no obligation to update or revise ahead-searching statements to mirror transformed assumptions, the prevalence of unanticipated events or modifications to long run operating outcomes in excess of time, except required by law.
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