Agree Realty (ADC) Prices Upside Stock Offering
- Wall Street dips as investors ready for Trump's inauguration
- Western Union (WU) Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586M in Settlement
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Agree Realty Corporation (NYSE: ADC) announced that it has upsized and priced an underwritten public offering of 1,815,000 shares of its common stock for expected gross proceeds of approximately $86.2 million before deducting the underwriting discount and offering expenses payable by the Company. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 272,250 shares of common stock. Subject to customary conditions, the offering is expected to close on October 31, 2016.
The Company intends to use the net proceeds of the offering to reduce amounts outstanding under its revolving credit facility, to fund property acquisitions and development activity, for working capital and for general corporate purposes. Raymond James, Citigroup, Jefferies and Wells Fargo Securities are acting as joint book-running managers. Stifel and Baird are acting as senior co-managers for the offering. BTIG, Capital One Securities, Janney Montgomery Scott, Ladenburg Thalmann and Wunderlich are acting as co-managers for the offering.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viper Energy Partners (VNOM) Prices Upsized $131.75M Offering of Common Stock
- EnteroMedics (ETRM) Prices Offering at $5.31 Per Unit, Including Warrant at $5.84
- Zynerba Pharma (ZYNE) Prices 2.8M Shares at $18 Per Share
Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesStifel, Citi, Raymond James, Jefferies & Co, Robert W Baird, Janney Montgomery Scott, Ladenburg Thalmann Financial Services, Wells Fargo, Definitive Agreement, Equity Offerings, BTIG
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!