Broadstone Net Lease prices 11M-share forward sale at $21.20; expects $217.1M net proceeds

Filed August 10, 2026 · ~2 min read

Key Changes

• high

  Forward sale structure: company receives no proceeds now; expects $217.1M net upon settlement (by Sept 2027) when it issues 11M new shares to forward purchasers, diluting share count 5.7% from 191.95M to 202.95M.

  Use of Proceeds verify on EDGAR →
• medium

  Proceeds earmarked for acquisitions, repaying revolving credit facility and other debt, and working capital. Underwriter affiliates Morgan Stanley and JPMorgan are both forward purchasers and credit facility lenders.

  Use of Proceeds verify on EDGAR →
• high

  Forward purchasers can force early settlement if share-borrowing costs spike or shares unavailable, requiring the company to issue shares irrespective of capital needs and causing dilution to per-share metrics.

  Risk Factors verify on EDGAR →