NETSTREIT Corp. 8-K

What Happened

• On February 13, 2026, NETSTREIT Corp. announced it completed a public offering of 12,627,000 shares of its common stock at $19.00 per share. This total includes 1,647,000 shares sold pursuant to the underwriters’ option, which was granted for 30 days and exercised in full on February 12, 2026.
• The offering was conducted under an underwriting agreement dated February 11, 2026, with Wells Fargo Securities, LLC and BofA Securities, Inc. as representatives, and involved forward sale agreements with Wells Fargo Bank, N.A. and Bank of America, N.A. Forward purchasers borrowed shares from third parties and sold 12,627,000 shares to the underwriters.

Key Details

• Shares offered: 12,627,000 common shares at $19.00 per share (includes 1,647,000 share option exercise).
• Agreements: Underwriting Agreement dated Feb 11, 2026; Forward Sale Agreements with Wells Fargo and Bank of America.
• Timing of proceeds: The Company will not initially receive proceeds from the forward sale; it expects physical settlement (delivery of shares and receipt of proceeds) on one or more dates no later than Feb 11, 2027.
• Settlement options: NETSTREIT may elect physical settlement, cash settlement, or net share settlement; if it elects cash settlement, it may receive no proceeds and could owe cash to the forward counterparty in some circumstances.

Why It Matters

• For investors, this transaction increases the number of shares that can be issued and creates timing uncertainty about when NETSTREIT will actually receive cash from the offering. Because proceeds are expected only upon forward settlement (by Feb 11, 2027) and cash settlement could result in no proceeds or a cash payment obligation, the funding and dilution effects are deferred and potentially variable.
• Monitor future disclosures for the actual settlement choice, timing of proceeds, and any stated use of proceeds; those will determine the immediate financial impact and dilution to existing shareholders.