Essential Properties announces offering of 7M shares of common stock

Essential Properties Realty Trust announced that it has commenced an underwritten public offering of 7M shares of its common stock on a forward basis. In connection with the offering of the common stock, the company expects to enter into forward sale agreements with BofA Securities, Citigroup and Wells Fargo Securities, with respect to 7M shares of the company’s common stock. The company will not receive any proceeds from the sale of shares of its common stock by the forward purchasers. The company intends to contribute any net proceeds from the offering upon the settlement of the forward sale agreement to the company’s operating partnership in exchange for OP Units, and the operating partnership intends to use such net proceeds for general corporate purposes, including potential future investments. BofA Securities, Citigroup and Wells Fargo Securities are acting as the joint book-running managers for the offering.