VICI Properties launches 30.3M share forward sale offering at $31.845; expects ~$964M net proceeds

VICI PROPERTIES INC.

30,302,500 shares (including 3,952,500 overallotment) offered via forward sale at $31.845 per share to underwriters.
Initial forward sale price $31.845 per share; settlement expected within ~12 months via physical delivery of shares.
If fully physically settled, net proceeds estimated at ~$964.4M after expenses.
Proceeds to fund acquisitions, development, loans, and general corporate purposes, including debt repayment.
Underwriters: Morgan Stanley, BofA, Citi, JPMorgan; agreements dated January 12, 2023.

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

VICI PROPERTIES INC. entered into Underwriting Agreement with Morgan Stanley & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (effective 2023-01-12).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
Effective: 2023-01-12

Exact text from the filing

VICI Properties Inc. (the “Company”) and VICI Properties OP LLC (“VICI OP”) entered into an underwriting agreement (the “Underwriting Agreement”), dated as of January 12, 2023, with Morgan Stanley & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters listed on Schedule I thereto

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

VICI PROPERTIES INC. entered into Forward Sale Agreements with Morgan Stanley & Co. LLC, Bank of America, N.A., Citibank, N.A. and JPMorgan Chase Bank, National Association valued at approximately $964.4 million (effective 2023-01-12).

Action: entry
Counterparty: Morgan Stanley & Co. LLC, Bank of America, N.A., Citibank, N.A. and JPMorgan Chase Bank, National Association
Value: approximately $964.4 million
Effective: 2023-01-12

Exact text from the filing

on January 12, 2023, the Company entered into forward sale agreements (the “Forward Sale Agreements”) with each Forward Purchaser.

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VICI PROPERTIES INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-010235

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