---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-018656"
form_type: "8-K"
ticker: "MDV"
cik: "0001645873"
company_name: "MODIV INDUSTRIAL, INC."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:55:42.690665+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-26-018656
- form_type: 8-K
- ticker: MDV
- cik: 0001645873
- company_name: MODIV INDUSTRIAL, INC.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645873/000114036126018656/0001140361-26-018656-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645873/000114036126018656/ef20072329_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-018656
- JSON: https://secwatch.observer/filing/0001140361-26-018656.json
- Plain text: https://secwatch.observer/filing/0001140361-26-018656.txt

## Source-grounded claims
- claim_id: 9014e9371a434e54a9139f19f0e225ef1c897e57
  claim: 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).
  evidence_excerpt: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1645873/000114036126018656/0001140361-26-018656-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.