Follow-on Offerning

Real Estate
Follow-on Offerning

Summary

Baird served as a co-manager on this offering

About

Agree Realty Corporation (“Agree Realty” or the “Company”) (NYSE: ADC) recently completed a follow-on offering of 2,875,000 shares of common stock, which includes the full exercise of the overallotment option, at a price of $61.00 per share, generating gross proceeds of approximately $175.4 million. The Company expects to use the net proceeds to fund acquisition and development activity and for general working capital and other corporate purposes, including the reduction of the outstanding balance on the Company’s revolving credit facility.

Agree Realty 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 20, 2020, the Company owned and operated a portfolio of 864 properties, located in 46 states and containing approximately 15.9 million square feet of gross leasable space. Agree Realty is headquartered in Bloomfield Hills, Michigan.
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Real Estate
Follow-on Offerning
Date
April 2020
Company
Agree Realty Corporation
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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