Examples of Realty Income common stock in a sentence
Both common partnership units are entitled to monthly distributions equal to the amount paid to common stockholders of Realty Income, and are redeemable in cash or Realty Income common stock, at our option, and at a conversion ratio of one to one, subject to certain exceptions.
Realty Income common stock is listed on the New York Stock Exchange (which we refer to as the “NYSE”), trading under the symbol “O.” Additional information about Realty Income and its subsidiaries is included in documents incorporated by reference into this joint proxy statement/prospectus.
Holders of shares of VEREIT common stock, VEREIT OP Series F Preferred Units and VEREIT Partnership common units in book-entry form immediately prior to the Merger Effective Time will not need to take any action to receive the Merger consideration of 0.705 newly issued shares of Realty Income common stock or other merger consideration as applicable.
Upon surrender of the certificates for cancellation along with the executed letter of transmittal and other required documents described in the instructions, a holder of one share of VEREIT common stock will receive the Merger consideration of 0.705 newly issued shares of Realty Income common stock, and a holder (other than VEREIT OP) of one unit of VEREIT OP Series F Preferred Units will receive the Series F Preferred Unit Redemption Amount.
After the Merger is completed, upon the terms and subject to the conditions of the Merger Agreement, if a stockholder held VEREIT Certificates immediately prior to the Merger Effective Time, the exchange agent will send them a letter of transmittal and instructions for exchanging their VEREIT Certificates for shares of Realty Income common stock or other merger consideration as applicable.
If the Mergers are completed, based on the shares of Realty Income common stock and VEREIT common stock outstanding as of June 25, 2021, legacy Realty Income stockholders will become holders of approximately 70% of the outstanding shares of Realty Income common stock and legacy VEREIT stockholders will become holders of approximately 30% of the outstanding shares of Realty Income common stock immediately after the Mergers.
At the effective time of the Merger, each share of VEREIT common stock issued and outstanding will be converted into the right to receive 0.705 newly issued shares of Realty Income common stock, with cash paid in lieu of fractional shares.
Whether you hold shares of Realty Income common stock directly in your name as the holder of record or in the name of a broker, bank or nominee, you may virtually vote your shares at the Realty income special meeting via the Realty Income special meeting website at xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx/xxxxxx0000xx.
For example, based on the range of closing prices of Realty Income common stock during the period from April 28, 2021, the last trading day before public announcement of the Merger, through June 22, 2021, the latest practicable date before the date of this joint proxy statement/prospectus, the Exchange Ratio of 0.705 represented a market value per share of VEREIT common stock ranging from a low of $45.62 to a high of $50.11.
It is a condition to the completion of the Mergers that the Realty Income common stock issuable in the Mergers and the Realty Income common stock to be authorized and reserved for issuance upon exercise or settlement of options and other equity awards to purchase Realty Income common stock issued in substitution for VEREIT options and other equity awards be approved for listing on the NYSE, subject to official notice of issuance.