other material
confidence high
sentiment neutral
materiality 0.65
Essential Properties Realty Trust enters into new $750M ATM equity offering program
ESSENTIAL PROPERTIES REALTY TRUST, INC.
- New ATM program allows sale of up to $750M of common stock through multiple agents and forward purchasers.
- Prior ATM program terminated; $279.9M remained unsold at termination.
- Proceeds to be used for general corporate purposes including debt repayment, working capital, capex, and investments.
- Sales may be made at-the-market, in block trades, or negotiated transactions; agents get up to 2% commission.
- Company may enter forward sale agreements with various banks to hedge offerings.