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VEREIT prices upsized common stock offering

VEREIT Inc. priced an upsized underwritten public offering of 82.0 million shares of common stock, up from 71.0 million shares, for estimated gross proceeds of approximately $779.0 million.

The underwriters were granted an option to purchase up to 12,300,000 additional shares.

The offering is expected to close Sept. 26, subject to customary closing conditions.

The single-tenant real estate investment trust intends to use the net proceeds to pay amounts owed in connection with the settlement of certain litigation and for general corporate purposes.

Citigroup, Barclays and Morgan Stanley are serving as the underwriters of the offering.