Sponsored: Computershare’s Strategic Planning and Collaboration Lead to NYSE Listing and Beyond

Computershare is the foremost provider of strategic shareholder services to public and private companies, including registered non-listed real estate investment trusts, business development companies, and other alternative investment securities. The team offers expertise and responsive client service, as well as innovative technology and tools for investor records and compliance needs.

Case Study: Sila Realty Trust Inc.

Sila Realty Trust was established in 2013, with a focus of acquiring and assembling a portfolio of high-quality healthcare real estate. As a real estate investment trust, it provides steady income to investors through regular dividends. Key strengths include a diversified portfolio, strategic acquisitions, and a strong financial position.

Sila’s growth trajectory over time and diversified portfolio of healthcare properties – over 135 properties across the United States – influenced its calculated decision to become publicly traded. This would be a company milestone where accuracy and excellence were paramount. Sila’s leadership team knew it would need a plan to ensure shareholder satisfaction in preparation for becoming a publicly listed company.

The company aimed to provide liquidity options for shareholders and gain access to the public equity markets to enhance future growth opportunities. Working with Computershare, Sila Realty Trust laid plans for a direct listing on the New York Stock Exchange.

Appointing Computershare as Transfer Agent

In August 2021, Sila selected Computershare as its new transfer agent. Once Computershare was appointed, it helped Sila handle monthly distributions, the reinvestment plan, quarterly share repurchases, transfer requests and all custodian, financial adviser, and shareholder inquiries.

Computershare developed a customized portal for Sila’s share repurchase program that investors and custodians used for quarterly activities. Computershare assisted the growing REIT in aligning strategically with their investors, custodians, and financial advisers.

Listing-Related Events Led by Computershare

The Computershare team methodically worked with Sila to design a plan to help execute the various processes the company wanted to implement prior to and upon listing on the NYSE. It implemented that plan on Sila’s behalf, which included weekly planning calls to review the full project plan to maintain a high level of accountability.

Prior to listing, Sila effected a one-for-four reverse stock split for all outstanding shares of common stock to align their common share price with a share price that is more typical of a publicly traded company. In connection with the listing, Sila commenced a modified “Dutch Auction” tender offer to purchase up to $50 million of the company’s outstanding common stock.

Behind the scenes, Computershare worked on restructure options for Sila to select from once the company went public. Consolidating all previously issued classes of stock into a single class of common stock was the option Sila chose and the milestone Computershare made possible from day one of trading.

At the time of listing, all outstanding shares of Class I common stock and Class T common stock were automatically converted to Class A common stock on a one-for-one basis. Class A common stock was then immediately renamed “common stock,” and is the sole class of stock trading on the NYSE. Computershare assisted Sila with each event by designing custom solutions to enhance the shareholder experience.

The Computershare team guided Sila through the process and played a crucial role in the successful implementation of its listing, which took place on June 13, 2024 (NYSE: SILA). A detailed project plan was reviewed and executed leading up to the listing date to ensure a successful market launch.

In 2025, Sila implemented a quarterly dividend rather than a monthly dividend, which is a best practice to save public companies money.

“The guidance, organization, support and expertise of the team at Computershare helped make this monumental moment in the history of Sila Realty Trust a success,” said Miles Callahan, senior vice president of capital markets and investor relations. “Active communication with a dedicated team seasoned in these processes helped ensure that we stayed on schedule and that nothing was overlooked. Everything we set out to accomplish was completed precisely on time and with what I would equate to white glove service from the team at Computershare.”

Looking to the Future

“The team at Computershare have been wonderful partners throughout the time we have been working with them. We have utilized many of their service offerings for the various processes that we have completed and feel as though we can rely on their customer service and expertise as we continue to grow as a publicly traded company,” added Callahan.

As a publicly traded company, Sila maintains the confidence of its shareholder base. Recently, Sila entered into a definitive merger agreement to be acquired by affiliates of Blue Owl Capital Inc. (NYSE: OWL) in an all-cash transaction valued at approximately $2.4 billion.

From communications to accurate and timely dividend distributions, the organization continues to work with Computershare as its trusted transfer agent. Learn more about Computershare’s full-service offering for alternative investments.

Computershare is a sponsor of AltsWire, and the article was published as part of their standard directory sponsorship package.

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