Agree Realty intends to price public sale of 2.1 million common shares

Raymond James, Citigroup help raise funds to pay down revolver debt

By Devika Patel

Knoxville, Tenn., Dec. 3 – Agree Realty Corp. said it will conduct a public offering of 2.1 million common shares with a 30-day greenshoe for an additional 315,000 shares.

Raymond James and Citigroup are the bookrunning managers.

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

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

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