MergerAug 12, 2026, 04:14 PM
MODIV INDUSTRIAL Completes Merger with Global Net Lease Subsidiary
AI Summary
MODIV INDUSTRIAL, INC. completed its merger on August 12, 2026, with REIT Merger Sub, a wholly-owned subsidiary of Global Net Lease, Inc. (GNL). Concurrently, Modiv Operating Partnership merged into OpCo Merger Sub, a subsidiary of GNL Operating Partnership. As part of the transaction, Modiv Common Stock converted into 1.975 shares of GNL Common Stock, and Modiv Preferred Stock converted into $25.00 cash plus accrued dividends. Additionally, all outstanding amounts under Modiv Operating Partnership's Credit Agreement were repaid and terminated.
Key Highlights
- MODIV INDUSTRIAL, INC. merged into REIT Merger Sub, a wholly-owned subsidiary of Global Net Lease, Inc. (GNL).
- Modiv Operating Partnership merged into OpCo Merger Sub, a wholly-owned subsidiary of GNL Operating Partnership.
- Each share of Modiv Common Stock converted into 1.975 shares of GNL Common Stock.
- Each share of Modiv Preferred Stock converted into $25.00 cash plus accrued and unpaid dividends.
- Class X Units in Modiv Operating Partnership converted to Class C Units, then to 1.975 GNL OP Units.
- All outstanding amounts under the Credit Agreement dated January 18, 2022, were repaid in full and terminated.
Price Impact
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