Realty Income (O) has released an update to notify the public and investors about its asset transaction finalization.
On January 23, 2024, a merger was completed where each share of Spirit common stock (excluding certain shares) was converted into 0.762 of a share of Realty Income common stock plus cash for fractional shares. Spirit’s Series A Preferred Stock was exchanged for Realty Income’s equivalent preferred stock on a one-for-one basis. All outstanding Spirit equity-based awards were also converted to Realty Income common stock and cash payouts for fractional shares and dividend equivalents. Realty Income issued approximately 108 million shares of common stock and 6.9 million shares of Series A Preferred Stock to former Spirit shareholders as a result of the merger.
For further insights into O financials, check out TipRanks’ Financials page.
