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Global Net Lease launches common stock offering

Global Net Lease Inc. is selling 4.0 million common shares in a public offering, with the net proceeds expected to go toward acquisitions and general corporate purposes.

The single-tenant net-lease real estate investment trust expects to grant a 30-day option to the underwriters to buy 600,000 additional shares. Based on the REIT's Nov. 27 closing stock price of $21.47 per share and assuming the full exercise of the underwriters' additional-share option, the gross offering proceeds are expected to total about $98.8 million.

BMO Capital Markets and UBS Investment Bank are the joint book-running managers for the offering.