Agree Realty (ADC) Announces 375K Share Common Offering

Agree Realty Corporation (NYSE: ADC) today announced that it commenced an underwritten public offering of 2,500,000 shares of its common stock. In connection with the offering, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock.

Citigroup and Jefferies are acting as joint book-running managers for the offering.

The Company expects to use the net proceeds to fund acquisition and development activity, general working capital and other corporate purposes, including the reduction of the outstanding balance on the Company's revolving credit facility.

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