BLOOMFIELD HILLS, Mich.,
Dec. 5, 2014 /PRNewswire/
-- Agree Realty Corporation (NYSE: ADC) (the "Company") today
announced that the underwriters have fully exercised their option
to purchase additional shares in connection with the Company's
previously announced common stock offering that priced on
December 4, 2014. In total, the
Company sold 2,587,500 shares, raising gross proceeds of
approximately $76.8 million.
Subject to customary conditions, the offering is expected to close
on December 9, 2014
Raymond James and Citigroup are
joint book-running managers, Jefferies and RBC Capital Markets are
lead managers, and Ladenburg Thalmann and SunTrust Robinson
Humphrey are co-managers for the offering.
This offering is being made pursuant to an effective shelf
registration statement and related prospectus and prospectus
supplement filed by the Company with the Securities and Exchange
Commission. When available, copies of the prospectus and
prospectus supplement for this offering may be obtained by
contacting Raymond James, 880
Carillon Parkway, St. Petersburg,
Florida 33716 or by email at prospectus@raymondjames.com, or
by contacting Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, or by telephone at 1-800-831-9146.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Agree Realty Corporation
Agree Realty is primarily engaged in the acquisition and
development of properties net leased to industry leading retail
tenants. The Company currently owns and operates a portfolio
of 196 properties, located in 36 states and containing
approximately 4.3 million square feet of gross leasable
space. The common stock of Agree Realty Corporation is listed
on the New York Stock Exchange under the symbol "ADC".
This press release contains forward-looking statements,
including statements about the terms and size of the offering and
the intended use of proceeds from the offering that represent the
Company's expectations and projections for the future. Although
these forward-looking statements are based on good faith beliefs,
reasonable assumptions and the Company's best judgment reflecting
current information, certain factors could occur that might cause
actual results to vary, including deterioration in national
economic conditions, weakening of real estate markets, decreases in
the availability of credit, increases in interest rates, adverse
changes in the retail industry, our continuing ability to qualify
as a REIT and other factors discussed in the Company's reports
filed with the Securities and Exchange Commission. Except as
required by law, the Company assumes no obligation to update these
forward-looking statements, even if new information becomes
available in the future.
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SOURCE Agree Realty Corporation