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VEREIT nets $887M in common stock offering

VEREIT Inc. closed a public offering of 94.3 million common shares, raising approximately $887.2 million in net proceeds.

The company noted that the offering included the full exercise of the underwriters' option to purchase additional shares.

It aims 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 were the underwriters.