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Sila Realty Trust Receives Approval for Listing on the New York Stock Exchange

Sila Realty Trust Inc., a net lease real estate investment trust with a focus on healthcare assets, received approval to list its common stock on the New York Stock Exchange. Trading is expected to commence on the NYSE on June 13, 2024, under the ticker symbol “SILA.”

“We are pleased to announce Sila has received approval to list on the New York Stock Exchange,” stated Michael A. Seton, president and chief executive officer of Sila. “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.”

As previously reported, the Sila REIT announced its plans to list on the NYSE in early April 2024.

In connection with listing on the NYSE, the REIT 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.

Furthermore, upon listing on the NYSE, all outstanding shares of Class I common stock and Class T common stock will automatically convert into Class A common stock on a one-for-one basis. Class A common stock will be renamed “common stock” and will be the sole class of stock traded on the NYSE.

The conversion will have no effect on the economic rights of holders of outstanding shares of Class I common stock or Class T common stock. The conversion will occur automatically and without any action on the part of stockholders pursuant to the REIT’s charter, as amended or supplemented. The conversion will not impact the preferences, rights, voting powers (one vote per share), restrictions, qualifications, and terms and conditions that currently exist with respect to the Class I common stock and Class T common stock.

Immediately upon and concurrent with such conversion, no shares of Class I common stock or Class T common stock will remain issued or outstanding.

When trading begins on the NYSE, Sila’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. The REIT recommends that investors who bought shares on the OTC markets monitor their brokerage accounts to ensure their holdings are updated to reflect the NYSE listing and the new ticker symbol.

Wells Fargo Securities is acting as financial adviser to Sila.

Sila Realty Trust Inc. is a net lease real estate investment trust headquartered in Tampa, Fla., with a strategic focus on investing in the significant, growing, and resilient healthcare sector of the U.S. economy. As of Dec. 31, 2023, Sila Realty Trust owned 131 real estate properties and two undeveloped land parcels located in 62 markets across the United States.

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