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.

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SRC Chart

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Strong And Under The Radar Today: Spirit Realty Capital (SRC)