Agree Realty Corp. | 4.250% Depositary Shares Series A Cumulative Preferred Stock (ADC.PRA)
Prospectus excerpt: We are offering 7,000,000 depositary shares (the “Depositary Shares”), each representing 1/1,000th of a share of our 4.250% Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share (the “Series A Preferred Shares”). The Series A Preferred Shares represented by the Depositary Shares will be deposited with Computershare Trust Company, N.A. (“Computershare”), as depositary. As a holder of Depositary Shares, you will be entitled to all proportional rights, preferences and privileges of the Series A Preferred Shares. The following is a summary of the Series A Preferred Shares and Depositary Shares. Dividends on the Series A Preferred Shares will be payable monthly in arrears on the first day of each month (or, if not on a business day, on the next succeeding business day). The dividend rate is 4.250% per annum of the $25,000.00 (equivalent to $25.00 per Depositary Share) liquidation preference, which is equivalent to $1.0625 per annum per Depositary Share. The first dividend on the Series A Preferred Shares will be paid on October 1, 2021, and will be in an amount equivalent to $0.0413194 per Depositary Share.
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Agree Realty is a fully 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, Co.'s subsidiary, Agree Limited Partnership, of which Co. is the sole general partner and in which it holds a majority interest. Preferred: ADC.PRA Open the ADC Information Page » |
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