Agree Realty to conduct a public offering of 1 million common shares

Deal funds debt reduction, development and general corporate purposes

By Devika Patel

Knoxville, Tenn., Jan. 23 - Agree Realty Corp. plans to price a public sale of stock, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.

The company will sell up to 1 million common shares on a commercially reasonable efforts basis.

Raymond James and Janney Montgomery Scott are the underwriters.

Proceeds will be used to reduce debt under the company's credit facility, for development activity and property acquisitions and general corporate purposes.

Agree Realty is a real estate investment trust located in Farmington Hills, Mich.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.