Realty Income and Vereit merge to create a spin-off Orion Office REIT Inc.

Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company^®, and VEREIT, Inc. (NYSE: VER) ("VEREIT") today announced that they anticipate closing their previously announced merger on November 1, 2021. In addition, the Registration Statement on Form 10 associated with the previously announced plan to spin-off substantially all the office assets from Realty Income and VEREIT, filed under the newly created company Orion Office REIT Inc. (NYSE: ONL) ("Orion"), is effective as of today, October 22, 2021. Realty Income has declared November 2, 2021 as the record date for the spin-off and November 12, 2021 as the distribution date for the spin-off.

The dates set forth above may be delayed subject to satisfaction or waiver of the conditions to the merger and spin-off. The spin-off will be accomplished via a pro rata dividend of one share of Orion common stock for every ten shares of Realty Income common stock outstanding as of the record date for the spin-off. For purposes of the spin-off, the outstanding Realty Income common stock on the record date will include the shares of Realty Income common stock received by VEREIT common stockholders in connection with the consummation of the merger. Realty Income stockholders will receive cash in lieu of fractional shares in the spin-off.

Since I own 53 shares of Realty Income Corporation, I should be getting 5 shares of Orion Office REIT Inc. (NYSE: ONL) around 12th of November