NETSTREIT prices 11 million share offering at $19 per share

NETSTREIT Corp. announced it has priced a public offering of 10,980,000 shares of common stock at $19.00 per share. The company has granted underwriters a 30-day option to purchase up to an additional 1,647,000 shares.

The offering is structured through forward sale agreements with affiliates of Wells Fargo Securities and BofA Securities. Under these agreements, the forward purchasers will borrow and sell the shares to underwriters, while NETSTREIT will deliver shares to the forward purchasers at a later date in exchange for cash proceeds.

The offering is expected to close on February 13, 2026, subject to customary closing conditions. NETSTREIT will not initially receive proceeds from the share sale but expects to receive net proceeds upon future settlement of the forward sale agreements, which must occur no later than February 11, 2027.

Wells Fargo Securities and BofA Securities are serving as book-running managers and representatives of the underwriters. Jefferies, Truist Securities, Mizuho, Capital One Securities, Scotiabank, Huntington Capital Markets, Regions Securities LLC, BTIG, RBC Capital Markets, Stifel and TD Securities are acting as joint book-running managers.

The company plans to contribute the net proceeds to its operating partnership in exchange for common units. The operating partnership intends to use the funds for general corporate purposes, including potential repayment of revolving credit facility amounts and funding acquisitions and development activities.

NETSTREIT is a Dallas-based real estate investment trust that specializes in acquiring single-tenant net lease retail properties. The offering is being conducted under the company's shelf registration statement that became effective on August 12, 2024.

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