Postal Realty Trust Launches Up to $300M At‑the‑Market Stock Offering

What Happened

• On August 5, 2026, Postal Realty Trust, Inc. (PSTL) and its operating partnership entered into sales agreements with multiple banks and broker‑dealers (including J.P. Morgan, Jefferies, Mizuho, Scotiabank, Stifel, Colliers, M&T and Truist) to offer up to $300,000,000 of Class A common stock, par value $0.01 per share. The agreements permit sales through sales agents, forward sellers on behalf of forward purchasers, or direct principal sales.
• The filing describes two forward sale structures the company may use: Contingent Forward Sale Agreements (sales contingent on exercise before specified expiration dates) and Non‑Contingent (fixed) Forward Sale Agreements. The company expects to physically settle fixed forward agreements but may elect cash or net share settlement in some cases.

Key Details

• Aggregate amount: up to $300,000,000 of Class A common stock. Date: August 5, 2026.
• Sales may occur on the NYSE at market or negotiated prices, by privately negotiated/block transactions, or other lawful methods.
• Commissions and fees: sales agent commissions generally up to 2.0% of gross sales price (may be lower); forward arrangements include similar commission mechanics and possible contingency premiums. Higher fees possible for certain distribution methods or principal purchases.
• Use of proceeds: general corporate purposes, including property acquisitions, dividends, capital expenditures, working capital and repayment of debt. The form of the Sales Agreement is filed as Exhibit 1.1.

Why It Matters

• This program gives Postal Realty Trust flexible, on‑demand access to capital of up to $300M, enabling the company to fund growth, pay dividends, or reduce debt without a single large equity offering.
• Investors should note potential dilution if shares are issued and the timing/amount of any issuance will depend on market conditions and any forward sale settlements; contingent forwards may delay or change when/if the company receives proceeds. Monitor future disclosures for actual issuances, forward agreement terms, and use of proceeds.