Vereit to redeem 4 million shares of 6.7% series F preferred stock

By Taylor Fox

New York, Dec. 16 – Vereit, Inc. intends to redeem 4 million shares, of its 6.7% series F cumulative redeemable preferred stock on Jan. 15, according to a news release.

The shares represent 21.2% of its 18.9 million shares of series F preferred stock outstanding.

The preferreds will be redeemed at a price of $25.00 per share, plus accrued and unpaid dividends from Dec. 15 to Jan. 14 in an amount equal to $0.1395833 per share to holders as of Jan. 1.

Dividends on the shares to be redeemed will cease to accrue on the redemption date.

This redemption is in addition to Vereit’s expected property acquisition pipeline of $150 million to $300 million.

Computershare Trust Co., NA (800) 546-5141 is the redemption agent.

Vereit is a Phoenix-based owner and manager of a portfolio of retail, restaurant, office and industrial real estate assets.

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