Getty Realty (GTY) has priced an underwritten public offering of 4M shares of common stock, to be sold on a forward basis, raising about $131M in gross proceeds.
The underwriters also have a 30-day option to purchase up to an additional 600,000 shares. The offering is expected to close on February 19, 2026, subject to customary closing conditions.
The company will not initially receive any proceeds from the sale of shares by the forward purchasers (or their affiliates). It intends to use the net proceeds from the offering and the net proceeds, if any, received upon the settlement of the forward sale agreements to fund property acquisitions, to repay indebtedness outstanding under its revolving credit facility, for working capital and other general corporate purposes, or a combination of the foregoing.
J.P. Morgan and Wells Fargo Securities acted as book-running managers for the offering.
GETY share rose +3.9% after-hours on Tuesday.