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Global Net Lease wraps up $29M preferred stock offering

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Global Net Lease wraps up $29M preferred stock offering

Global Net Lease closed its roughly $28.8 million series A cumulative redeemable preferred stock follow-on offering.

The offering, which priced at $25.00 per share, comprised 1,150,000 shares of the company's 7.25% series A cumulative redeemable preferred stock, including the underwriter's option to buy up to 150,000 additional shares.

Net proceeds will go toward additional property acquisitions and for general corporate purposes.

BMO Capital Markets Corp. was the sole book-running manager.