Baird served as a co-manager on this offering
AboutAgree Realty Corporation (“Agree” or the “Company”) (NYSE: ADC) recently completed a follow-on offering of 3,162,500 shares of common stock (including full exercise of the overallotment option) at a price of $65.85 per share in connection with a forward sale agreement, generating gross proceeds of approximately $208.3 million. The Company will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers. Agree expects to use the net proceeds, if any, it receives upon the future settlement of the forward sale agreements to fund acquisition and development activity, with any remaining proceeds to be used for general working capital and other corporate purposes, including the reduction of the outstanding balance on the Company’s revolving credit facility, if any.
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry leading retail tenants. As of March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space. Agree is headquartered in Bloomfield Hills, Michigan.
CONTACT US TO LEARN MORE
- May 2019
- Agree Realty Corporation
- Real Estate
- Target Location
- North America