Acadia Realty Trust (AKR) Announces 4.2M Common Share Sale
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Acadia Realty Trust (NYSE: AKR) announced the sale of 4,200,000 common shares of beneficial interest of the Company (“Shares”), in a public offering pursuant to the Company’s effective shelf registration statement previously filed with the Securities and Exchange Commission. The Company has also granted the underwriters an option to purchase up to 630,000 additional Shares.
The Company intends to use the net proceeds from the sale of the Shares to fund the purchase price of a retail property located in the Central Loop of Chicago, Illinois, which the Company has entered into a contract to acquire for $146.9 million, as well as for other general corporate purposes. In the event such acquisition is not consummated, the Company intends to use the net proceeds for general corporate purposes, which may include funding future acquisitions or the repayment of outstanding indebtedness.
Citigroup and BofA Merrill Lynch are acting as underwriters of the offering. A copy of the preliminary prospectus supplement and prospectus relating to these securities may be obtained by contacting:
Citigroup, c/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717(800) 8319146orBofA Merrill LynchNC10040343200 North College Street, 3rd floorCharlotte NC 282550001Attn: Prospectus DepartmentEmail: email@example.com
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