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MarketScreener Homepage  >  Equities  >  Nasdaq  >  American Finance Trust Inc    AFIN

AMERICAN FINANCE TRUST INC

(AFIN)
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AMERICAN FINANCE TRUST, INC : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

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06/25/2019 | 05:17pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

Amendments to Equity Distribution Agreements

On June 25, 2019, American Finance Trust, Inc. (the "Company") entered into an amendment (the "Common Stock EDA Amendment") to the Equity Distribution Agreement dated May 8, 2019 (the "Common Stock Equity Distribution Agreement") among the Company and American Finance Operating Partnership, L.P. (the "Operating Partnership"), on the one hand, and BMO Capital Markets Corp., BBVA Securities Inc., B. Riley FBR, Inc., Citizens Capital Markets, Inc., KeyBanc Capital Markets Inc., Ladenburg Thalmann & Co. Inc. and SunTrust Robinson Humphrey, Inc. solely for the purpose of revising the list of agents in the Company's "at the market" equity offering program for its Class A common stock named in the Common Stock Equity Distribution Agreement to include SG Americas Securities, LLC ("SG Americas").

On June 25, 2019, the Company also entered into an amendment (the "Preferred Stock EDA Amendment") to the Equity Distribution Agreement dated May 8, 2019 (the "Preferred Stock Equity Distribution Agreement," and together with the Common Stock Equity Distribution Agreement, the "Agreements") among the Company and the Operating Partnership, on the one hand, and BMO Capital Markets Corp., BBVA Securities Inc., B. Riley FBR, Inc., Citizens Capital Markets, Inc., KeyBanc Capital Markets Inc., Ladenburg Thalmann & Co. Inc. and SunTrust Robinson Humphrey, Inc. solely for the purpose of revising the list of agents in the Company's "at the market" equity offering program for its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock named in the Preferred Stock Equity Distribution Agreement to include D.A. Davidson & Co.

SG Americas, or one of its affiliates is a lender under certain of the Company's mortgage loans. In addition, an affiliate of BMO Capital Markets Corp. is administrative agent, as well as a lender, under the Company's revolving credit facility, and certain of the other agents or their affiliates are also lenders under the Company's revolving credit facility. Certain of the other agents or their affiliates are also lenders under certain of the Company's mortgage loans or counterparties with respect to certain of the Company's swaps.

Copies of the Common Stock EDA Amendment and the Preferred Stock EDA Amendment are filed as Exhibits 1.1 and 1.2, respectively, to this Current Report on Form 8-K, and the description of the material terms of the Common Stock EDA Amendment and the Preferred Stock EDA Amendment in this Item 1.01 is qualified in its entirety by reference to the Common Stock EDA Amendment and the Preferred Stock EDA Amendment, which are incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.





 (d) Exhibits




 Exhibit No. Description




   1.1     Amendment No. 1, dated as of June 25, 2019, to Equity Distribution
         Agreement, dated May 8, 2019, among American Finance Trust, Inc.,
         American Finance Operating Partnership, L.P., BMO Capital Markets Corp.,
         BBVA Securities Inc., B. Riley FBR, Inc., Citizens Capital Markets, Inc.,
         KeyBanc Capital Markets Inc., Ladenburg Thalmann & Co. Inc., SunTrust
         Robinson Humphrey, Inc. and SG Americas Securities, LLC (Class A Common
         Stock)




   1.2     Amendment No. 1, dated as of June 25, 2019, to Equity Distribution
         Agreement, dated May 8, 2019, among American Finance Trust, Inc.,
         American Finance Operating Partnership, L.P., BMO Capital Markets Corp.,
         BBVA Securities Inc., B. Riley FBR, Inc., Citizens Capital Markets, Inc.,
         KeyBanc Capital Markets Inc., Ladenburg Thalmann & Co. Inc., SunTrust
         Robinson Humphrey, Inc. and D.A. Davidson & Co. (Series A Preferred
         Stock)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2019 -
EBIT 2019 -
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 -
Capi. / Sales2019 -
Capi. / Sales2020 -
Capitalization 1 198 M
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Mean consensus HOLD
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Average target price 12,00  $
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Managers
NameTitle
Edward Michael Weil Chairman, President & Chief Executive Officer
Katie P. Kurtz Chief Financial Officer, Secretary & Treasurer
Lisa D. Kabnick Lead Independent Director
Stanley R. Perla Independent Director
Leslie D. Michelson Independent Director
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