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Aug. 11, 2020, 6:23 a.m. EDT

Real estate company Netstreit to offer 15.5 million shares in IPO, priced at $19 to $21 each

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By Ciara Linnane

Real estate company Netstreit Corp. will offer 15.5 million shares in its planned initial public offering, priced at $19 to $21 each, the company said in a regulatory filing Tuesday. The company will offer 15.2 million of those, while selling shareholders will offer 290,865 shares. The company has applied to list on the New York Stock Exchange, under the ticker symbol "NTST." There are 14 banks underwriting the deal, led by Wells Fargo, BofA Securities, Citigroup, Stifel and Jefferies. Proceeds of the deal will be used to redeem preferred stock, to pay down debt and for general corporate purposes. "We are an internally-managed real estate company that acquires, owns and manages a diversified portfolio of single-tenant, retail commercial real estate subject to long-term net leases with high credit quality tenants across the United States," the company says in its prospectus.

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