Spirit Realty Capital, Inc. Closes 23 Million Share Common Stock Offering

SCOTTSDALE, Ariz., April 14, 2015 (GLOBE NEWSWIRE) -- Spirit Realty Capital, Inc. SRC ("Spirit"), a real estate investment trust that invests in single-tenant, operationally essential real estate, today announced the closing of its public offering of 23 million shares of its common stock, which includes the full exercise of the underwriter's option to purchase additional shares.

The offering generated net proceeds of approximately $268.9 million, after deducting the underwriting discount and other estimated expenses payable by Spirit, which will be used to repay the outstanding balance under Spirit's revolving credit facility, to fund potential future acquisitions and for general corporate purposes.

Morgan Stanley was the sole book-runner for the offering. Copies of the final prospectus supplement and accompanying prospectus for the offering may be obtained, when available, by contacting Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

Forward-Looking and Cautionary Statements

This press release contains forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward‐looking statements can be identified by the use of words such as "expects," "plans," "estimates," "projects," "intends," "believes," "guidance," and other similar expressions that do not relate to historical matters. These forward‐looking statements are subject to known and unknown risks and uncertainties that can cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, Spirit's continued ability to source new investments, risks associated with using debt to fund Spirit's business activities (including refinancing and interest rate risks, changes in interest rates and/or credit spreads and changes in the real estate markets), unknown liabilities acquired in connection with acquired properties or interests in real‐estate related entities, general risks affecting the real estate industry (including, without limitation, the market value of our properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from our expectations, dependence on tenants' financial condition and operating performance, and competition from other developers, owners and operators of real estate), risks associated with our failure to maintain our status as a REIT under the Internal Revenue Code of 1986, as amended, and other additional risks discussed in Spirit's most recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10‐K. Spirit expressly disclaims any responsibility to update or revise forward‐looking statements, whether as a result of new information, future events or otherwise, except as required by law.