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Global Net Lease adopts up to $200M at-the-market offering program

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Global Net Lease adopts up to $200M at-the-market offering program

Global Net Lease and its operating partnership agreed to sell up to $200.0 million of the company's 7.25% series A cumulative redeemable preferred stock in at-the-market offerings from time to time.

Ladenburg Thalmann & Co. Inc., BMO Capital Markets Corp. and B. Riley FBR Inc. will be the sales agents under an equity distribution agreement signed March 23.

The single-tenant net-lease-focused real estate investment trust said that any net proceeds will be used for future property acquisitions and general corporate purposes.