SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
STORE Capital Corporation (“STORE Capital”) (NYSE: STOR), an internally
managed net-lease real estate investment trust (REIT) that invests in Single
Tenant Operational Real Estate, announced
today that STORE Holding Company, LLC (the “STORE Holding”), a
stockholder affiliated with Oaktree Capital Management, L.P., has
completed its public offering of 33,336,144 shares of STORE Capital’s
common stock, at a public offering price of $25.25 per share. With the
completion of this offering, STORE Holding no longer holds any shares of
STORE Capital common stock. STORE Capital did not receive any proceeds
from the sale of shares of common stock sold by STORE Holding.
“At the time of our November 2014 IPO, Oaktree indirectly owned over 71%
of our total shares outstanding, and 17 months later they have fully
exited their position which reflects the strong performance of our
common stock since our IPO in November 2014. From IPO to exit, this has
certainly set a high watermark for a quick and profitable sell down by a
private equity sponsor,” said Christopher Volk, Chief Executive Officer.
“We thank Oaktree for all of their support in STORE’s development,
growth and evolution to one of the largest and fastest-growing net-lease
REITs in the country. With this final and expected sale of shares by our
founding institutional shareholder, STORE will continue our orderly
transition to a Board principally comprised of independent members.”
Goldman, Sachs & Co. acted as sole underwriter for the offering.
A shelf registration statement (including a prospectus) relating to
these securities has been filed with the Securities and Exchange
Commission (the “SEC”) and has become effective. The offering of these
securities was made only by means of a prospectus supplement and
accompanying prospectus, which are on file with the SEC. This press
release does not constitute an offer to sell or the solicitation of an
offer to buy any securities.
About STORE Capital
STORE Capital Corporation is an internally managed net-lease real estate
investment trust, or REIT, that is the leader in the acquisition,
investment and management of Single Tenant Operational Real Estate,
which is its target market and the inspiration for its name. STORE
Capital is one of the largest and fastest growing net-lease REITs and
owns a large, well-diversified portfolio that consists of investments in
1,325 property locations, substantially all of which are profit centers,
in 46 states as of December 31, 2015.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts may contain forward-looking statements. Forward-looking
statements can be identified by the use of words such as "estimate,"
"anticipate," "expect," "believe," "intend," "may," "will," "should,"
"seek," "approximate" or "plan," or the negative of these words and
phrases or similar words or phrases. Forward-looking statements, by
their nature, involve estimates, projections, goals, forecasts and
assumptions and are subject to risks and uncertainties that could cause
actual results or outcomes to differ materially from those expressed in
the forward-looking statements. For more information on risk factors for
STORE Capital’s business, please refer to the periodic reports it files
with the SEC from time to time. These forward-looking statements speak
only as of the date of this press release and should not be relied upon
as predictions of future events. STORE Capital expressly disclaims any
obligation or undertaking to update or revise any forward-looking
statements contained herein, to reflect any change in STORE Capital’s
expectations with regard thereto, or any other change in events,
conditions or circumstances on which any such statement is based, except
as required by law.
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Financial Profiles
Moira Conlon, 310-622-8220
STORECapital@finprofiles.com
Source: STORE Capital Corporation