Global Net Lease entered into an ATM equity offering sales agreement on November 7, 2025, and disclosed the extension of its shelf registration on November 11, 2025. The agreement allows the company to issue up to $300 million of common stock as needed, extending the shelf registration through the end of November 2025.
The move is part of GNL’s disciplined capital strategy, which focuses on reducing net debt, maintaining a strong balance sheet, and pursuing opportunistic share repurchases. The company has already lowered net debt by $2 billion since the third quarter of 2024, and Fitch Ratings upgraded its corporate credit rating to investment‑grade BBB‑ from BB+ in early November.
In the third quarter of 2025, GNL reported a net loss of $71.1 million, revenue of $121 million, and funds from operations of $0.24 per share. Earnings per share were $‑0.32, missing consensus estimates of $0.21. The loss reflects higher operating costs and cash outflows associated with debt reduction and share repurchases, consistent with the company’s focus on deleveraging and shareholder returns.
The ATM offering provides liquidity for future capital needs and supports the company’s ongoing deleveraging plan. By maintaining an extended shelf registration, GNL preserves flexibility to raise equity when market conditions are favorable, thereby supporting its strategy to strengthen capital structure and return value to shareholders.
Investors welcomed the announcement, citing the company’s progress in debt reduction and its recent credit rating upgrade. The ATM offering signals continued confidence in GNL’s capital strategy and its ability to manage liquidity while pursuing share repurchases.
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