Spirit Realty Finalizes Merger with Realty Income

Spirit Realty Capital (SRC) has released an update to notify the public and investors about its asset transaction finalization.

On January 23, 2024, a merger was completed where each share of Spirit common stock was converted into a portion of a newly issued share of Realty Income common stock plus cash for fractional shares, and Spirit’s preferred stock was exchanged for Realty Income’s preferred stock on a one-to-one basis. Spirit equity-based awards were also converted into Realty Income stock and cash equivalents. Post-merger, approximately 108 million shares of Realty Income common stock and 6.9 million shares of Realty Income Series A Preferred Stock were issued to former Spirit stockholders.

For further insights into SRC financials, check out TipRanks’ Financials page.