Sila Realty Trust Inc., a net lease real estate investment trust focused on the healthcare sector, announced it has received approval to list its common stock on the New York Stock Exchange (NYSE).
The New York City-based REIT is expected to begin trading on June 13 under the ticker symbol “SILA.” To commemorate the first day of trading, members of the company’s management team and board of directors are scheduled to ring The Opening Bell for the June 13 session.
When trading begins on the NYSE, the company’s common stock will cease trading on the over-the-counter markets. Sila’s existing stockholders are not required to take any action in connection with the company listing on the NYSE.
In connection with listing on the NYSE, the company intends to commence a $50 million modified “Dutch Auction” tender offer. The price range for the tender offer will be announced at the launch of the tender offer, which is expected to occur on the same day as the listing on the NYSE.
“We are pleased to announce Sila has received approval to list on the New York Stock Exchange,” stated Michael A. Seton, president and CEO. “This is a significant milestone in our Company’s history, as we believe the listing will introduce Sila to a large and diverse group of investors, offering access to scale capital, while also providing liquidity optionality for our current shareholders.”