Postal Realty Trust, Inc. Prices Initial Public Offering

Postal Realty Trust, Inc. PSTL (the "Company"), an internally managed real estate investment trust that will own and manage properties leased to the United States Postal Service, today announced that it has priced its initial public offering of 4,500,000 shares of Class A common stock at an initial public offering price of $17.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. Settlement of the offering is expected to occur on May 17, 2019, subject to customary closing conditions. The Class A common stock is expected to begin trading on the New York Stock Exchange on May 15, 2019.

The Company intends to use the net proceeds received from the offering as follows: (a) approximately $29.0 million to acquire properties in the Company's formation transactions; (b) approximately $31.7 million to repay mortgage debt secured by certain of the Company's initial properties, and (c) the remainder for general corporate purposes, including working capital, future acquisitions, transfer taxes and, potentially, paying distributions.

Stifel, Nicolaus & Company, Incorporated, Janney Montgomery Scott LLC, BMO Capital Markets Corp. and Height Capital Markets, LLC are acting as joint book-running managers for the offering. B. Riley FBR, Inc. and D.A. Davidson & Co. are acting as co-managers for the offering.

A registration statement on Form S-11, including a prospectus, has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, One South Street, 15th Floor, Baltimore, MD 21202, Attention: Syndicate Department, Fax: 443-224-1273, or by email at SyndProspectus@stifel.com; Janney Montgomery Scott LLC, 60 State Street, Boston, MA 02109, Attention: Equity Capital Markets Group, or email prospectus@janney.com; BMO Capital Markets Corp., Attention: Syndicate Department, 3 Times Square, 25th Floor, New York, New York 10036 or by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com; and Height Capital Markets, LLC at 1775 Pennsylvania Ave. NW, 11th Floor, Washington, DC, 20006, Attention: Investment Banking, or email prospectus@heightllc.com or by telephone at (202) 836-8960.

About Postal Realty Trust, Inc.

The Company is an internally managed real estate investment trust that will own and manage properties leased to the United States Postal Service, or USPS. Upon completion of the offering and related formation transactions, the Company will own and manage an initial portfolio of 271 postal properties located in 41 states comprising 871,843 net leasable interior square feet, all of which are leased to the USPS, and through its taxable REIT subsidiary will provide fee-based third party property management services for an additional 404 postal properties leased to the USPS and owned by family members of Andrew Spodek, the Company's chief executive officer, and their partners.

Forward-Looking and Cautionary Statements

This press release contains "forward-looking statements." Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including statements regarding the timing of settlement and the expected price range for the use of proceeds of the initial public offering, are based on the Company's current expectations and assumptions regarding capital market conditions the Company's business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS's terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, general real estate market conditions, the Company's competitive environment and other factors set forth under "Risk Factors" in the Company's registration statement on Form S-11, as amended from time to time. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190515005484/en/