American Realty Capital Trust (ARTC) Becomes Available on The Nasdaq Global Select Market
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American Realty Capital Trust, Inc. (NASDAQ: ARCT) announced today that it listed its shares of common stock on The Nasdaq Global Select Market (“Nasdaq”). Trading commenced today, March 1, 2012, with a closing price of $10.49 per share.
“It is extremely rewarding to be able to unlock the value of the company we have built for our shareholders only four years after the REIT’s inception,” said Nicholas S. Schorsch, Chairman of ARCT. “We have delivered on our promise as a result of considerable planning and unusually positive capital market conditions. We are delighted to be able to announce our listing on Nasdaq.”
In connection with the listing of ARCT’s common stock on Nasdaq, the Company has internalized the management services previously provided by American Realty Capital Advisors, LLC. We refer to this transaction as the “Internalization.” As a result of the Internalization, the Company has become a self-administered real estate investment trust, managed full-time by Chief Executive Officer and President, William M. Kahane, one of the key executives who built the Company and assembled its property portfolio. The key personnel who have been primarily responsible for the day-to-day operations of the Company have joined Bill and Brian Jones, ARCT’s Chief Financial Officer, who ran investment banking for AR Capital, LLC, before accepting his new position. Nicholas S. Schorsch remains Chairman of the Board of the Company, and the composition of the board of directors remains unchanged as a result of the Internalization.
“It is extremely rewarding to be able to unlock the value of the company we have built for our shareholders only four years after the REIT’s inception,” said Nicholas S. Schorsch, Chairman of ARCT. “We have delivered on our promise as a result of considerable planning and unusually positive capital market conditions. We are delighted to be able to announce our listing on Nasdaq.”
In connection with the listing of ARCT’s common stock on Nasdaq, the Company has internalized the management services previously provided by American Realty Capital Advisors, LLC. We refer to this transaction as the “Internalization.” As a result of the Internalization, the Company has become a self-administered real estate investment trust, managed full-time by Chief Executive Officer and President, William M. Kahane, one of the key executives who built the Company and assembled its property portfolio. The key personnel who have been primarily responsible for the day-to-day operations of the Company have joined Bill and Brian Jones, ARCT’s Chief Financial Officer, who ran investment banking for AR Capital, LLC, before accepting his new position. Nicholas S. Schorsch remains Chairman of the Board of the Company, and the composition of the board of directors remains unchanged as a result of the Internalization.
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