Broadstone Net Lease raises capital through a priced stock offering, with underwriters holding a 30-day purchase option.
Broadstone Net Lease priced an 11 million-share public offering at $20.50 per share under forward sale agreements. The move aims to raise capital for general corporate purposes, including potential acquisitions or debt repayment.
Morgan Stanley and J.P. Morgan are serving as joint book-running managers for the offering. Underwriters also secured a 30-day option to purchase additional shares, which could increase the total deal size if exercised.
The offering reflects ongoing market demand for real estate investment trusts, particularly those focused on net lease properties with stable cash flows.