Broadstone Net Lease Announces Conversion of Class A Common Stock into Common Stock
ROCHESTER, N.Y., March 10, 2021 (GLOBE NEWSWIRE) -- Broadstone Net Lease, Inc. (NYSE: BNL), or the Company, an internally-managed real estate investment trust, today announced that all outstanding shares of its Class A Common Stock will automatically convert into Common Stock on a one-for-one basis and all shares of Common Stock will begin trading on the New York Stock Exchange, effective at 9:30 a.m. Eastern time on March 22, 2021.
- ROCHESTER, N.Y., March 10, 2021 (GLOBE NEWSWIRE) -- Broadstone Net Lease, Inc. (NYSE: BNL), or the Company, an internally-managed real estate investment trust, today announced that all outstanding shares of its Class A Common Stock will automatically convert into Common Stock on a one-for-one basis and all shares of Common Stock will begin trading on the New York Stock Exchange, effective at 9:30 a.m. Eastern time on March 22, 2021.
- The conversion will have no effect on the economic rights of holders of shares of Class A Common Stock, and BNL does not expect it to have any material effect on its future operations.
- The Common Stock has the same preferences, rights, voting powers (one vote per share), restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption or otherwise, as the Class A Common Stock, and all provisions of the Articles of Incorporation, as amended or supplemented, applicable to the shares of Common Stock shall apply to the shares of Class A Common Stock post-conversion.
- Immediately upon and concurrent with such conversion, no shares of Class A Common Stock will remain issued or outstanding.