SCOTTSDALE, Ariz.--(BUSINESS WIRE)--STORE Capital Corporation (NYSE: STOR) (the “Company”), an internally
managed net-lease real estate investment trust (REIT) that invests in Single
Tenant Operational Real Estate, today
announced the pricing of a follow-on public offering of 14,000,000
shares of common stock to be sold by the Company, at a public offering
price of $22.00 per share. In connection with the offering, STORE
Holding Company, LLC, the Company’s controlling stockholder (“Selling
Stockholder”), has granted the underwriters a 30-day option to purchase
up to 2,100,000 additional shares of common stock from the Selling
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Stockholder. The Company will not receive any proceeds from shares of
common stock to be sold by the Selling Stockholder. The offering is
expected to close on December 7, 2015, subject to customary closing
conditions.
The Company intends to use approximately $99 million of the net proceeds
of the proposed offering to repay amounts outstanding under its
unsecured credit facilities and the remainder to fund property
acquisitions subject to purchase contracts in the ordinary course of
business.
Goldman, Sachs & Co., Credit Suisse and Morgan Stanley are joint
book-running managers for the offering. BMO Capital Markets, Citigroup,
KeyBanc Capital Markets and Wells Fargo Securities are joint lead
managers for the offering; and Baird, Cowen and Company, Ladenburg
Thalmann & Co. Inc., Raymond James, Stifel and SunTrust Robinson
Humphrey are co-managers for the offering. The offering of these
securities will be made only by means of a prospectus supplement and
accompanying prospectus. A copy of the prospectus supplement and
accompanying prospectus, when available, may be obtained from: Goldman,
Sachs & Co., via telephone: (866) 471-2526, email: prospectus-ny@ny.email.gs.com,
or standard mail: Goldman, Sachs & Co., 200 West Street, New York, NY
10282, Attention: Prospectus Department; Credit Suisse Securities (USA)
LLC, via telephone: (800) 221-1037, email: newyork.prospectus@credit-suisse.com,
or standard mail: Credit Suisse Securities (USA) LLC, One Madison
Avenue, New York, NY 10010, Attention: Prospectus Department; and Morgan
Stanley & Co. LLC, via standard mail: Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus
Department.
A registration statement relating to these securities has been filed
with the U.S. Securities and Exchange Commission and has become
effective under the Securities Act of 1933, as amended. This press
release does not constitute an offer to sell or the solicitation of an
offer to buy, nor will there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About STORE Capital
STORE Capital Corporation is an internally managed net-lease real estate
investment trust, or REIT, that is the leader in the acquisition,
investment and management of Single Tenant Operational Real Estate,
which is its target market and the inspiration for its name. STORE
Capital is one of the largest and fastest growing net-lease REITs and
owns a large, well-diversified portfolio that consists of investments in
over 1,250 property locations, substantially all of which are profit
centers, in 46 states.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts may contain forward-looking statements. Forward-looking
statements can be identified by the use of words such as "estimate,"
"anticipate," "expect," "believe," "intend," "may," "will," "should,"
"seek," "approximate" or "plan," or the negative of these words and
phrases or similar words or phrases. Forward looking statements include
those relating to whether or not the proposed offering will be
consummated and the intended use of proceeds from the proposed offering.
Forward-looking statements, by their nature, involve estimates,
projections, goals, forecasts and assumptions and are subject to risks
and uncertainties that could cause actual results or outcomes to differ
materially from those expressed in the forward-looking statements. For
more information on risk factors for STORE Capital’s business, please
refer to the periodic reports and prospectuses and prospectus
supplements it files with the SEC from time to time. These
forward-looking statements speak only as of the date of this press
release and should not be relied upon as predictions of future events.
STORE Capital expressly disclaims any obligation or undertaking to
update or revise any forward-looking statements contained herein, to
reflect any change in STORE Capital’s expectations with regard thereto,
or any other change in events, conditions or circumstances on which any
such statement is based, except as required by law.
Contacts
Financial Profiles
Moira Conlon, 310-622-8220