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Realty Income | 8-K/A: Unaudited Pro Forma Condensed Combined Financial Statements

SEC announcement ·  Feb 16 16:15
Summary by Moomoo AI
Realty Income Corporation (Realty Income) has filed an amended Current Report on Form 8-K/A with the SEC, providing updated pro forma financial information following its merger with Spirit Realty Capital, Inc. (Spirit). The merger, initially reported on January 24, 2024, was completed as per the Agreement and Plan of Merger dated October 29, 2023. The amendment includes unaudited pro forma condensed combined financial statements as of September 30, 2023, and for the nine months ended on that date, as well as for the year ended December 31, 2022. These statements reflect the acquisition method of accounting with Realty Income as the acquirer. The pro forma financials are intended to present the financial effects of the merger, including adjustments for the fair value of acquired assets and liabilities...Show More
Realty Income Corporation (Realty Income) has filed an amended Current Report on Form 8-K/A with the SEC, providing updated pro forma financial information following its merger with Spirit Realty Capital, Inc. (Spirit). The merger, initially reported on January 24, 2024, was completed as per the Agreement and Plan of Merger dated October 29, 2023. The amendment includes unaudited pro forma condensed combined financial statements as of September 30, 2023, and for the nine months ended on that date, as well as for the year ended December 31, 2022. These statements reflect the acquisition method of accounting with Realty Income as the acquirer. The pro forma financials are intended to present the financial effects of the merger, including adjustments for the fair value of acquired assets and liabilities, merger transaction costs, and stock-based compensation awards. The report, dated February 16, 2024, also includes audited consolidated financial statements of Spirit as of December 31, 2022, and 2021, and for the three-year period ended December 31, 2022, along with unaudited consolidated financial statements of Spirit as of September 30, 2023. The merger resulted in Spirit merging into a subsidiary of Realty Income, with the subsidiary continuing as the surviving corporation. The transaction was structured so that each share of Spirit common stock was converted into 0.762 shares of Realty Income common stock, and Spirit's preferred stock was converted into Realty Income's newly created Series A preferred stock.

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