NEW YORK, June 4, 2013 /PRNewswire/ -- American Realty
Capital Properties, Inc. ("ARCP" or the "Company") (NASDAQ: ARCP)
announced today it has entered into definitive purchase agreements
pursuant to which it agreed to sell approximately 29.4 million
shares of common stock at a price of $15.47 per share for gross proceeds of
$455 million, and approximately 28.4 million shares of 5.81%
convertible preferred stock ("Preferred Stock") with an aggregate
liquidation preference of $445 million, in separate private
placement transactions (collectively, the "Placement"). Net
proceeds from the Placement of approximately $898 million will be used to fully fund working
capital needs and recently announced strategic acquisitions,
including a $807 million property portfolio being acquired
from GE Capital and the $2.2 billion
acquisition of CapLease, Inc. (NYSE: LSE).
(Logo: http://photos.prnewswire.com/prnh/20120529/NY15147LOGO
)
The Placement was led by existing institutional stockholders in
ARCP and is expected to close on Friday,
June 7, 2013.
RCS Capital, the investment banking and capital markets division
of Realty Capital Securities, LLC, and JMP Securities LLC served as
co-placement agents in connection with the private placements of
the common stock and the Preferred Stock.
Important Notice
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities. The securities sold in
these private placements have not been registered under the
Securities Act of 1933 and may not be offered or sold in
the United States in the absence
of an effective registration statement or exemption from
registration requirements.
ARCP is a publicly traded Maryland corporation listed on The NASDAQ
Global Select Market that qualified as a real estate investment
trust for U.S. federal income tax purposes for the taxable year
ended December 31, 2011, focused on
acquiring and owning single tenant freestanding commercial
properties subject to net leases with high credit quality tenants.
Additional information about ARCP can be found on its website at
www.arcpreit.com. The Company may disseminate important information
regarding the company and its operations, including financial
information, through social media platforms such as Twitter,
Facebook and LinkedIn.
The statements in this press release that are not historical
facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the
outcome to be materially different. In addition, words such as
"anticipate," "believe," "expect" and "intend" indicate a
forward-looking statement, although not all forward-looking
statements include these words.
SOURCE American Realty Capital Properties, Inc.