Vereit to redeem remaining 6.7% series F preferred stock

By Rebecca Melvin

Concord, N.H., July 16 – Vereit, Inc. intends to redeem all of its outstanding 6.7% series F cumulative redeemable preferred stock on Aug. 15, according to a company news release.

The company is using cash on hand and its undrawn revolver to fund the redemption.

The shares will be redeemed at $25.00 per share. As previously announced, Vereit will pay on Aug. 16 the cash dividend of $0.1395833 for the period from July 15 through Aug. 14 to holders of record as of Aug. 1.

Concurrently with the preferred stock redemption, operating partnership Vereit Operating Partnership LP intends to redeem all its outstanding series F preferred units.

Vereit redeemed 4 million of the series F shares in December 2020.

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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