Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:32 AM
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Slide #25. Agree Realty Corporation — Preferred Stock Offering
Agree Realty Corporation (NYSE:ADC)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that it has priced an underwritten public offering of 7,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000th of a share of 4.250% Series A Cumulative Redeemable Preferred Stock, for expected gross proceeds of approximately $175 million, before deducting the underwriting discount and other estimated offering expenses. The closing of the offering is expected to occur on or about September 17, 2021, subject to the satisfaction of customary closing conditions.
Agree Realty is an integrated real estate investment trust primarily focused on the ownership, acquisition, development and management of retail properties net leased to tenants. Co.'s assets are held by, and all of its operations are conducted through, directly or indirectly, Agree Limited Partnership, of which Co. is the sole general partner and in which it holds a majority interest.
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Buy (3.31 out of 4)
(ranked lower than approx. 57% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com