Broadstone Net Lease Inc. (BNL) Prices 10M Share Offering at $23/sh

Broadstone Net Lease, Inc. (NYSE: BNL) announced today the pricing of an underwritten public offering of 10,000,000 shares of its Common Stock at a price to the public of $23.00 per share, less underwriting discounts and commissions. The underwriters also have been granted a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock at the public offering price, less underwriting discounts and commissions. The closing of the offering is expected to occur on June 28, 2021, subject to satisfaction of customary closing conditions.

BNL will contribute the net proceeds of the proposed offering to its operating partnership, Broadstone Net Lease, LLC, which intends to subsequently use such net proceeds to pay down outstanding borrowings under BNL’s $900 million revolving credit facility, fund potential acquisition opportunities and for other general corporate and working capital purposes.

Goldman Sachs & Co. LLC and BMO Capital Markets are acting as joint lead book-running managers for the offering. J.P. Morgan, Morgan Stanley, Capital One Securities and Truist Securities are acting as joint book-running managers for the offering. KeyBanc Capital Markets, BTIG, Regions Securities LLC, Ramirez & Co. Inc. and TD Securities are acting as co-managers for the offering.

The offering of Common Stock is being made pursuant to BNL’s shelf registration statement (including a prospectus), which was filed on June 23, 2021 with the Securities and Exchange Commission (the “SEC”) and automatically became effective upon filing. The offering is being made only by means of a separate prospectus supplement and the accompanying prospectus. Copies of these documents are available at no charge on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and the accompanying prospectus may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; and BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by telephone at (800) 414-3627, or by email at [email protected].

The offering of these securities is being made only by means of a prospectus supplement and an accompanying prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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