NETSTREIT Corp. Announces Pricing of Upsized Forward Common Stock Offering

NETSTREIT Corp. (the “Company”) announced today that it has priced a public offering of 9,600,000 shares of its common stock at a public offering price of $18.00 per share in connection with the forward sale agreements described below. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,440,000 shares of common stock. The offering is expected to close on January 12, 2024, subject to customary closing conditions.

Wells Fargo Securities and BofA Securities are acting as book-running managers and representatives of the underwriters for the offering. Jefferies, Truist Securities, Capital One Securities, Scotiabank, Regions Securities LLC, TD Securities, Mizuho, Stifel and Citigroup are acting as joint book-running managers for the offering. Baird, BTIG, Raymond James, Wolfe Capital Markets and Advisory, Ramirez & Co., Inc., Roberts & Ryan and Comerica Securities are acting as co-managers for the offering.

The Company has entered into forward sale agreements with affiliates of Wells Fargo Securities and BofA Securities (the "forward purchasers") with respect to 9,600,000 shares of its common stock (and expects to enter into forward sale agreements with respect to an aggregate of 11,040,000 shares if the underwriters exercise their option to purchase additional shares in full). In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 9,600,000 shares of the common stock that will be delivered in this offering (or an aggregate of 11,040,000 shares if the underwriters exercise their option to purchase additional shares in full). Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, the Company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than January 9, 2025, an aggregate of 9,600,000 shares of its common stock (or an aggregate of 11,040,000 shares if the underwriters exercise their option to purchase additional shares in full) to the forward purchasers in exchange for cash proceeds per share equal to the applicable forward sale price, which will be the public offering price, less underwriting discounts and commissions, and will be subject to certain adjustments as provided in the forward sale agreements.