Broadstone Net Lease, Inc. Announces Pricing of Public Offering of Common Stock

Broadstone Net Lease, Inc. Announces Pricing of Public Offering of Common Stock

Broadstone Net Lease, Inc. (NYSE: BNL), (“BNL”), today announced the pricing of an underwritten public offering of 11,000,000 shares of its common stock, at a price to the public of $20.50 per share, less underwriting discounts and commissions, in connection with the forward sale agreements described below. The underwriters also have been granted a 30-day option to purchase up to an additional 1,650,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The closing of the offering is expected to occur on August 10, 2026, subject to the satisfaction of customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as joint book-running managers of the offering. BMO Capital Markets, KeyBanc Capital Markets, Truist Securities, BTIG, Capital One Securities, M&T Securities and Regions Securities LLC are acting as bookrunners for the offering. Huntington Capital Markets andRamirez & Co., Inc. are acting as co-managers for the offering.

BNL has entered into forward sale agreements with each of Morgan Stanley & Co. LLC and JPMorgan Chase Bank, National Association or their affiliates (the “forward purchasers”). In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 11,000,000 shares of common stock that will be delivered in this offering (or an aggregate of 12,650,000 shares of common stock if the underwriters exercise their option to purchase additional shares in full). Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, BNL intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by BNL occurring no later than September 30, 2027, an aggregate of 11,000,000 shares of common stock (or an aggregate of 12,650,000 shares of common stock if the underwriters exercise their option to purchase additional shares in full) to the forward purchasers in exchange for cash proceeds per share equal to the applicable forward sale price, which will be the public offering price, less underwriting discounts and commissions, and will be subject to certain adjustments as provided in the forward sale agreements.