Agree Realty to pay down revolver via some proceeds of stock offering

By Wendy Van Sickle

Columbus, Ohio, May 4 – Agree Realty Corp. plans to reduce its revolving credit facility debt with some proceeds of an offering of 2.25 million shares of its common stock, according to a Wednesday press release.

The company also plans to use proceeds to fund property acquisitions and development activity, for working capital and for general corporate purposes.

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

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