Why Spirit Realty Capital (SRC) Is Down Today

NEW YORK (TheStreet) -- Spirit Realty Capital (SRC) was falling 2.1% to $10.51 after filing to sell 23 million shares and convertible notes in concurrent offerings.

The company announced it has commenced multiple public offerings of 23 million shares of common stock and two series of convertible senior notes. One series of convertible notes will mature on May 15, 2019 with aggregate capital of $350 million.

Morgan Stanley, Bank of America-Merrill Lynch, and Deutsche Bank Securities will be joint book-running managers for the common stock offering. Morgan Stanley, JPMorgan, and RBC Capital will act as joint book-running managers for the convertible senior notes offering.

Must read: Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

SRC Chart

SRC data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%