Benzinga | Apr 13, 2021 05:52AM EDT

Essential Properties Realty Trust Priced Upsized 7.15M Share Public Offering of Common Stock @$23.50/Share

Essential Properties Realty Trust, Inc. (NYSE:EPRT) announced the pricing of an underwritten public offering of 7,150,000 shares of its common stock at a public offering price of $23.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of common stock. The Company expects to use the net proceeds from the offering to repay amounts outstanding on its revolving credit facility and for general corporate purposes, including potential future investments. The offering was upsized from the previously announced offering size of 6,500,000 shares of common stock. All of the shares are being offered by the Company, and the offering is expected to close on April 15, 2021, subject to customary closing conditions.

Citigroup, BofA Securities, Barclays, Goldman Sachs & Co. LLC, Mizuho Securities, Stifel and Truist Securities are acting as the joint book-running managers of the offering. Capital One Securities, Raymond James, Scotiabank, Evercore ISI, Ladenburg Thalmann, Berenberg, Siebert Williams Shank and Ramirez & Co., Inc. are acting as the co-managers of the offering.