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.