Aug 13 (Reuters) – NetSTREIT Corp said on Thursday it had raised $225 million in its U.S. initial public offering after the real estate company sold fewer-than-expected shares at a price below its target range.
The company, a commercial real estate investment trust, priced its IPO of 12.5 million shares at $18 per share. NetSTREIT had initially planned to sell up to 15.5 million shares at $19-$21 per share.
The commercial real estate business has taken a hit globally due to the COVID-19 pandemic, as most tenants have been unable to pay rent. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)
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source: reuters.com