GNL acquires Modiv Industrial for $535M enterprise value in all-stock deal

MODIV INDUSTRIAL, INC.

Modiv common stockholders receive 1.975 GNL shares/share, valued at ~$18.82 (17% premium to May 1 close).
Transaction valued at ~$535M enterprise value; GNL expected to own 89% of combined company.
Immediate 4% AFFO per share accretion; leverage-neutral; no external capital required.
GNL to fully repay Modiv's debt and preferred stock using its revolving credit facility and cash.
Modiv stockholders expected to receive a 25% increase in annual dividends post-closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MODIV INDUSTRIAL, INC. entered into Agreement and Plan of Merger with Global Net Lease, Inc., GNL Motion Merger Sub, LLC, Global Net Lease Operating Partnership, L.P., GNL Motion OpCo Merger Sub, LLC (effective 2026-05-03).

Action: entry
Agreement: merger
Counterparty: Global Net Lease, Inc., GNL Motion Merger Sub, LLC, Global Net Lease Operating Partnership, L.P., GNL Motion OpCo Merger Sub, LLC
Effective: 2026-05-03

Exact text from the filing

On May 3, 2026, Modiv Industrial, Inc. (the “ Company ”) and Modiv Operating Partnership, LP (the “ Operating Partnership ” and, together with the Company, the “ Company Parties ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Global Net Lease, Inc. (“ GNL ”), GNL Motion Merger Sub, LLC (“ GNL Merger Sub ”), Global Net Lease Operating Partnership, L.P. (the “ GNL Operating Partnership ”) and GNL Motion OpCo Merger Sub, LLC (“ Opco Merger Sub ” and, together with GNL, GNL Merger Sub and the GNL Operating Partnership, the “ GNL Parties ”).

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MODIV INDUSTRIAL, INC. filing history →

Source: SEC EDGAR

accession 0001140361-26-018656

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