Bellevue Capital Partners LLC

06/26/2024 | Press release | Distributed by Public on 06/26/2024 16:57

Amendment to Beneficial Ownership Report - Form SC 13D/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

GLOBAL NET LEASE, INC.

(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
379378201
(CUSIP Number)

Michael R. Anderson

General Counsel

Bellevue Capital Partners, LLC

222 Bellevue Avenue

Newport, RI 02840

212-415-6500

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

June 24, 2024
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 379378201 SCHEDULE 13D Page 2 of 14
1

NAME OF REPORTING PERSON

Bellevue Capital Partners, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

28,888,803

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

28,888,803

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

28,888,803

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

12.5%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 3 of 14
1

NAME OF REPORTING PERSON

MWM PIC, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

27,010,384

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

27,010,384

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

27,010,384

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

11.7%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 4 of 14
1

NAME OF REPORTING PERSON

MWM I, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

26,140

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

26,140

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

26,140

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 5 of 14
1

NAME OF REPORTING PERSON

AR Capital LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

OO

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

16,481

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

16,481

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

16,481

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 6 of 14
1

NAME OF REPORTING PERSON

AR Global Investments, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

12,012

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

12,012

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

12,012

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 7 of 14
1

NAME OF REPORTING PERSON

American Realty Capital Global II Special LP LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

6,725

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

6,725

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

6,725

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

TYPE OF REPORTING PERSON

OO

CUSIP No. 379378201 SCHEDULE 13D Page 8 of 14
1

NAME OF REPORTING PERSON

Nicholas S. Schorsch

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☒
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

29,388,012

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

29,388,012

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

29,388,012

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

12.8%

14

TYPE OF REPORTING PERSON

IN

CUSIP No. 379378201 SCHEDULE 13D Page 9 of 14
1

NAME OF REPORTING PERSON

Nicholas S. Schorsch 2016 Grantor Retained Annuity Trust

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

N/A

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☒
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

404,114

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

404,114

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

404,114

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.2%

14

TYPE OF REPORTING PERSON

IN

CUSIP No. 379378201 SCHEDULE 13D Page 10 of 14
1

NAME OF REPORTING PERSON

Edward M. Weil, Jr.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☒

3

SEC USE ONLY

4

SOURCE OF FUNDS

OO

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

☐
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY EACH

REPORTING PERSON

WITH

7

SOLE VOTING POWER

66,560

8

SHARED VOTING POWER

0

9

SOLE DISPOSITIVE POWER

66,560

10

SHARED DISPOSITIVE POWER

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

66,560

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.0%

14

TYPE OF REPORTING PERSON

IN

CUSIP No. 379378201 SCHEDULE 13D Page 11 of 14

Explanatory Note

This Amendment No. 1 (the "Amendment") to Schedule 13D (the "Schedule 13D") amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission (the "SEC") on September 22, 2023 relating to the shares of common stock, par value $0.01 per share (the "Common Stock"), of Global Net Lease, Inc., a Maryland corporation (the "Issuer"). This Amendment updates the Schedule 13D to reflect certain recent transactions as reported under Item 3 below.

Item 1. Security and Issuer.

Unless indicated otherwise, all items left blank remain unchanged and any items which are reported are deemed to amend and supplement the existing items in the Schedule 13D. Capitalized terms used herein without definition shall have the meaning set forth in the Original Schedule 13D.

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 of the Schedule 13D is amended and supplemented by inserting the following information:

Bellevue Capital Partners

The following transactions were effected by Bellevue Capital Partners from November 9, 2023 to June 26, 2024:

Trade Date Buy/Sell Number of Shares of Common Stock Weighted Average Price Per Share of Common Stock(1) Price Range(2)
11/09/2023 N/A 2,609,728(3) N/A N/A
01/10/2024 Sell 220,564 $10.01 $10.00 - $10.03
01/19/2024 Sell 150,000 $8.90 $8.90 - $8.93
01/22/2024 Sell 176,577 $9.04 $9.03 - $9.07
01/23/2024 Sell 34,135 $8.93 $8.91 - $9.00
01/24/2024 Sell 20,000 $9.00 $9.00 - $9.01
01/25/2024 Sell 158,021 $8.93 $8.92 - $8.93
01/26/2024 Sell 4,837 $8.90 $8.90 - $8.95
02/16/2024 Sell 155,000 $8.10 $8.06 - $8.13
06/13/2024 Sell 159,720 $7.32 $7.28 - $7.36
06/14/2024 Sell 145,058 $7.25 $7.23 - $7.26
06/17/2024 Sell 200,000 $7.16 $7.14 - $7.26
06/18/2024 Sell 89,271 $7.32 $7.16 - $7.20
06/20/2024 Sell 433,350 $7.19 $7.15 - $7.22
06/21/2024 Sell 450,000 $7.08 $7.05 - $7.16
06/24/2024 Sell 150,000 $7.19 $7.17 - $7.25
06/25/2024 Sell 150,000 $7.08 $7.06 - $7.12
06/26/2024 Sell 100,000 $7.02 $7.02 - $7.08
(1) Unless otherwise indicated, these shares were purchased in multiple transactions at the price ranges set forth in the column labeled "Price Range." Bellevue Capital Partners undertakes to provide to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.
(2) Price ranges are inclusive. Rows marked "N/A" mean all shares were sold at the same price.
(3) Reflects a distribution of shares to a former member of Bellevue Capital Partners
CUSIP No. 379378201 SCHEDULE 13D Page 12 of 14

Item 4. Purpose of Transaction.

The information set out in Item 3 of this Schedule 13D is hereby incorporated herein by reference.

Item 5. Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is amended and supplemented by incorporating by reference the information set forth in boxes (11) and (13) of the cover pages to this Amendment for each of the Reporting Persons, and such information is incorporated herein by reference. The percentages reported herein are calculated based upon 230,383,756 outstanding shares of Common Stock as of May 3, 2024.

CUSIP No. 379378201 SCHEDULE 13D Page 13 of 14

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: June 26, 2024

BELLEVUE CAPITAL PARTNERS, LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: General Counsel

Dated: June 26, 2024

MWM PIC, LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

MWM I, LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

AR CAPITAL, LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

AR GLOBAL INVESTMENTS, LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

CUSIP No. 379378201 SCHEDULE 13D Page 14 of 14

Dated: June 26, 2024

American Realty Capital Global II Special LP LLC
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

NICHOLAS S. SCHORSCH
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

NICHOLAS S. SCHORSCH 2016 GRANTOR RETAINED ANNUITY TRUST
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact

Dated: June 26, 2024

EDWARD M. WEIL, JR.
By: /s/ Michael R. Anderson

Name: Michael R. Anderson

Title: Attorney-in-fact