PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. announced today the closing of an underwritten public offering of 7,935,000 shares of its common stock at a public offering price of $25.20 per share, including 1,035,000 shares purchased by the underwriters pursuant to their exercise, in full, of an option to purchase additional shares. The Company received net proceeds from the offering (after payment of expected expenses) of approximately $191.5 million and expects to use such net proceeds to voluntarily prepay, without prepayment penalty, approximately $62.0 million of its outstanding Class A Series 2017-1 ABS Notes, to repay outstanding borrowings under its revolving credit facility and for general corporate purposes, including potential future investments.

Barclays, BofA Securities, Citigroup, Goldman Sachs & Co. LLC and SunTrust Robinson Humphrey acted as the joint book-running managers of the offering. Capital One Securities, Stifel, Mizuho Securities, Credit Suisse, RBC Capital Markets, Evercore ISI and Ladenburg Thalmann acted as the co-managers of the offering.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of September 30, 2019, the Company had a portfolio of 917 freestanding net lease properties with a weighted average remaining lease term of 14.4 years and a weighted average rent coverage ratio of 2.9x. As of the same date, the Company’s portfolio was 100.0% leased to 199 tenants operating 233 different concepts in 16 industries across 45 states.