Armada Hoffler arranges $50 million at-the-market sale of common stock

BofA Merrill Lynch and Robert W. Baird are agents

By Devika Patel

Knoxville, Tenn., May 5 – Armada Hoffler Properties, Inc. negotiated a $50 million at-the-market equity offering with agents BofA Merrill Lynch and Robert W. Baird & Co. Inc. on May 5, according to an 8-K and prospectus supplement filed Tuesday with the Securities and Exchange Commission.

The agents will be paid a 2% commission.

Proceeds will be used for development or redevelopment activities, potential acquisitions, debt repayment, including borrowings under the company’s unsecured revolving credit facility, or for general corporate purposes and investments.

The real estate company is based in Virginia Beach.

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