Retail REIT Netstreit's $225M, 3 Firm-Led IPO Misses Mark

Law360 (August 13, 2020, 6:23 PM EDT) -- Retail-focused real estate investment trust Netstreit kicked off its first day of trading Thursday on a low note, with shares pricing below the range and only raising a downsized $225 million in an initial public offering steered by Venable, Winston & Strawn and Vinson & Elkins.

Dallas-based Netstreit Corp., advised by Venable LLP and Winston & Strawn LLP, originally planned to price 15.5 million shares at between $19 and $21 each, which would have raised $310 million at midpoint, according to an earlier filing with the U.S. Securities and Exchange Commission.

But the real estate company later downsized its offering to...

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