NETSTREIT Prices 10.98M Shares at $19 Offering, 1.65M-Share Option
NETSTREIT priced an upsized forward offering of 10,980,000 common shares at $19.00 each, with a 30-day underwriter option for up to 1,647,000 additional shares. Closing is expected February 13, 2026, with net proceeds upon settlement by February 11, 2027 used for revolving credit repayment, property acquisitions and development.
1. Offering Details
NETSTREIT announced an upsized forward common stock offering of 10,980,000 shares priced at $19.00 per share, granting underwriters a 30-day option to purchase up to an additional 1,647,000 shares. The public offering is scheduled to close on February 13, 2026, subject to customary conditions.
2. Forward Sale Structure
Under forward sale agreements with affiliates of Wells Fargo Securities and BofA Securities, the forward purchasers will borrow and sell the shares to underwriters at the offering price, deferring issuance and company receipt of proceeds until physical settlement. If the underwriters exercise the option in full, total settlement may reach 12,627,000 shares.
3. Use of Proceeds
NetSTREIT intends to contribute any net proceeds from settlement into its operating partnership in exchange for common units. The operating partnership plans to use funds for revolving credit facility repayment, acquisitions of single-tenant net lease retail properties and development activities in its pipeline.
4. Settlement Timeline
Physical settlement of forward sale agreements will occur on or before February 11, 2027, at which time NetSTREIT will deliver the shares and receive net cash proceeds equal to the offering price less underwriting discounts, commissions and adjustments.