American Realty Capital Properties Announces $900 Million Private Placement of
Common Stock and Convertible Preferred Stock
Net Proceeds To Fully Fund Recently Announced Acquisitions of CapLease and GE
Capital Property Portfolio
NEW YORK, June 4, 2013
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 $455million, and approximately 28.4 million
shares of 5.81% convertible preferred stock ("Preferred Stock") with an
aggregate liquidation preference of $445million, 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
$807million 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
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.
Contact: For more information about this announcement, please contact Tony
DeFazio at 484-342-3600 or email@example.com, Anthony J. DeFazio, Diccicco
Battista Communications, firstname.lastname@example.org, Ph: 484-342-3600; Brian S.
Block, EVP & CFO, American Realty Capital Properties, Inc., email@example.com,
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