STORE Capital Corporation’s Stockholders Approve Acquisition by GIC and Oak Street
December 09 2022 - 3:05PM
Business Wire
STORE Capital Corporation (NYSE: STOR, “STORE Capital” or
the “Company”), an internally managed net-lease real estate
investment trust (REIT) that invests in Single Tenant
Operational Real Estate, today announced that,
at the concluded special meeting of stockholders held today, its
stockholders approved the acquisition of the Company by affiliates
of GIC, a global institutional investor, and funds managed by Oak
Street, a Division of Blue Owl.
The Company will provide final vote results for the special
meeting, as certified by the independent Inspector of Election, on
a Current Report on Form 8-K to be filed with the U.S. Securities
and Exchange Commission.
The transaction is expected to close in the first quarter of
2023, subject to the satisfaction of customary closing conditions.
Under the terms of the merger agreement announced on September 15,
2022, among other things, the Company’s stockholders will receive
$32.25 per share in cash. Upon closing of the transaction, the
Company’s common stock will no longer be listed on any public
market.
About STORE Capital
STORE Capital is an internally managed net-lease REIT that is a
leader in the acquisition, investment and management of Single
Tenant Operational Real Estate, which is its target market and the
inspiration for its name. STORE Capital is one of the largest and
fastest growing net-lease REITs and owns a large, well-diversified
portfolio that consists of investments in more than 3,000 property
locations across the United States, substantially all of which are
profit centers. Additional information about STORE Capital can be
found on its website at www.storecapital.com.
Cautionary Statement Regarding Forward Looking
Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts. In some cases,
you can identify forward-looking statements by the use of
forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” or “potential” or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. You can also identify forward-looking
statements by discussions of strategy, plans or intentions.
The forward-looking statements contained in this release are
subject to numerous known and unknown risks, uncertainties,
assumptions and changes in circumstances, many of which are beyond
the control of the Company, that may cause actual results and
future events to differ significantly from those expressed in any
forward-looking statement, which risks and uncertainties include,
but are not limited to: the ability to complete the proposed
transaction on the proposed terms or on the anticipated timeline,
or at all, including risks related to the satisfaction of the
closing conditions to consummate the proposed transaction; the
occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement relating to
the proposed transaction; risks that the proposed transaction
disrupts the Company’s current plans and operations or diverts the
attention of management from ongoing business operations; the risk
of unanticipated difficulties or expenditures relating to the
proposed transaction, including potential difficulties with the
Company’s ability to retain employees and maintain relationships
with customers and other third parties; risks related to the
outcome of any stockholder litigation in connection with the
proposed transaction; and other effects relating to any further
announcements regarding the proposed transaction on the market
price of the Company’s common stock.
While forward-looking statements reflect the Company’s good
faith beliefs, they are not guarantees of future performance or
events. Any forward-looking statement speaks only as of the date on
which it was made. The Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes. For a further discussion
of these and other factors that could cause the Company’s future
results to differ materially from any forward-looking statements,
see the section entitled “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021, filed
with the SEC on February 25, 2022, as updated by the Company’s
subsequent periodic reports filed with the SEC.
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Financial Profiles, Inc.
STORECapital@finprofiles.com Investors or Media: Moira
Conlon, 310‑622‑8220 Megan McGrath, 310-622-8248
STORE Capital (NYSE:STOR)
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