American Finance Trust to Sell Preferred Issue

American Finance Trust (NASDAQ:AFIN) has announced a new issue of preferred stock is being sold. American Finance Trust is a newer REIT and we are not familiar at all with this issuer.

Only a few details are known at this time.

The issue is to be 4 million shares with an over allotment of 600,000 shares.

The shares will be cumulative and will likely NOT be qualified for preferential tax treatment.

The preliminary prospectus can be read here.