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Netstreit Corp . (NYSE:NTST) announced Monday that it has completed a public offering of 12,420,000 shares of its common stock at a public offering price of $17.70 per share. The offering included 1,620,000 shares sold pursuant to the underwriters’ option, which was exercised in full on Friday.
The offering was conducted under an underwriting agreement dated Thursday among Netstreit Corp., NETSTREIT, L.P., Bank of America, N.A., and Wells Fargo (NYSE:WFC) Bank, National Association, in their capacities as forward purchasers and forward counterparties, as well as BofA Securities, Inc. and Wells Fargo Securities, LLC as representatives of the underwriters. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 4.66, suggesting robust liquidity to meet its short-term obligations.
In connection with the offering, Netstreit entered into forward sale agreements with Bank of America and Wells Fargo. The forward purchasers or their affiliates borrowed the shares from third parties and sold them to the underwriters. The shares were offered pursuant to Netstreit’s registration statement on Form S-3, which became effective on August 12, 2024.
Netstreit will not initially receive any proceeds from the sale of shares by the forward purchasers. The company expects to physically settle the forward sale agreements by delivering shares of common stock and receiving proceeds from those sales on one or more settlement dates, which will occur no later than July 24, 2026. Netstreit may also choose to cash settle or net share settle its obligations under the agreements, in which case it may not receive proceeds and could owe cash to the forward counterparties under certain circumstances.
This information is based on a statement in a filing with the Securities and Exchange Commission. With analysts forecasting 17% revenue growth for the current year, investors seeking deeper insights into Netstreit’s growth prospects can access comprehensive analysis through InvestingPro, which offers exclusive financial metrics and expert research reports for over 1,400 US stocks.
In other recent news, Netstreit Corp reported its second-quarter 2025 earnings, showing a mixed financial performance. The company reported earnings per share of $0.04, which was below the expected $0.06, representing a 33.33% miss. However, revenue exceeded expectations, coming in at $45.16 million compared to the projected $44.12 million, a 2.36% surprise. This revenue beat indicates a positive development despite the EPS miss. Additionally, BofA Securities upgraded Netstreit’s stock rating from Underperform to Neutral, citing the company’s strong quarterly results and a recent forward equity raise. The firm also raised its price target for Netstreit to $19.00 from $18.00. BofA Securities noted that the company has a sufficient investment spread to accelerate external growth. These developments highlight recent financial and strategic activities at Netstreit.
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