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STORE Capital prices, upsizes common stock offering

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STORE Capital prices, upsizes common stock offering

STORE Capital Corp. priced its issuance of 8,650,000 common shares at $23.10 per share.

The company upsized the planned issuance from the previously announced offering of 7,600,000 common shares. It granted the underwriters a 30-day option for the purchase of up to 1,297,500 additional common shares.

STORE expects the offering to close March 31, subject to customary closing conditions. It intends to use the net proceeds to repay outstanding amounts under its unsecured revolving credit facility and to fund property acquisitions, subject to purchase contracts in the ordinary course of business, according to a release.

Goldman Sachs & Co. and Morgan Stanley served as the joint book-running managers. BMO Capital Markets, Citigroup, KeyBanc Capital Markets and Wells Fargo Securities served as the lead managers, while Baird, Capital One Securities, Ladenburg Thalmann, Raymond James, Stifel and SunTrust Robinson Humphrey served as the co-managers.