0000000000-20-007253.txt : 20200910 0000000000-20-007253.hdr.sgml : 20200910 20200810154654 ACCESSION NUMBER: 0000000000-20-007253 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200810 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: NETSTREIT Corp. CENTRAL INDEX KEY: 0001798100 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 843356606 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 5910 N. CENTRAL EXPRESSWAY STREET 2: SUITE 1600 CITY: DALLAS STATE: TX ZIP: 75206 BUSINESS PHONE: 972-200-7100 MAIL ADDRESS: STREET 1: 5910 N. CENTRAL EXPRESSWAY STREET 2: SUITE 1600 CITY: DALLAS STATE: TX ZIP: 75206 FORMER COMPANY: FORMER CONFORMED NAME: NetSTREIT Corp. 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Central Expressway Suite 1600 Dallas, TX 75206 Re: NetSTREIT Corp. Amendment No. 1 to Form S-11 Filed August 5, 2020 File No. 333-239918 Dear Mr. Manheimer: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Amendment No. 1 to Form S-11 filed August 5, 2020 Risk Factors Our bylaws designate the Circuit Court for Baltimore City, Maryland, page 46 1. We note your revised disclosure that in accordance with your bylaws, the federal district courts will be the sole and exclusive forum for claims made under the Securities Act of 1933. Please expand your disclosure to clarify that there is uncertainty as to whether a court would enforce such provision and that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. In that regard, we note that Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. We also note your disclosure here that the Mark Manheimer NetSTREIT Corp. August 7, 2020 Page 2 provision in your bylaws that establishes the Circuit Court for Baltimore City, Maryland or the United States District Court of the District of Maryland, Northern Division as the exclusive forum for other claims does not cover claims made by stockholders pursuant to the securities laws of the United States, or any rules or regulations promulgated thereunder. Please revise your disclosure and your bylaws to clearly state that neither exclusive forum provision applies to claims brought under the Exchange Act or tell us how you will inform investors in future filings that the provision does not apply to any actions under the Exchange Act. Please refer to Section 27 of the Exchange Act. NOI and Cash NOI, page 93 2. Please revise your reconciliation to reconcile NOI and Cash NOI to the most directly comparable GAAP financial measure. Refer to Item 10(e)(1)(i)(B) of Regulation S-K. You may contact Isaac Esquivel at 202-551-3395 or Shannon Menjivar at 202-551-3856 if you have questions regarding comments on the financial statements and related matters. Please contact Stacie Gorman at 202-551-3585 or Erin E. Martin at 202-551-3391 with any other questions. Sincerely, FirstName LastNameMark Manheimer Division of Corporation Finance Comapany NameNetSTREIT Corp. Office of Real Estate & Construction August 7, 2020 Page 2 cc: Christina Roupas, Esq. FirstName LastName