Agree Realty (ADC) has released an update.
Agree Realty Corporation has launched a new At-The-Market (ATM) equity offering, potentially raising up to $1 billion through common stock sales. The program involves a range of financial institutions as sales agents and forward purchasers, allowing the company to sell shares either directly or through forward sale agreements. These sales may occur on the New York Stock Exchange or off-exchange in negotiated deals. While the company won’t initially receive proceeds from borrowed shares sold by forward sellers, it plans to settle these agreements with cash or shares, receiving the proceeds at that time. Sales commissions are capped at 2% for agents involved in the transactions.
For further insights into ADC stock, check out TipRanks’ Stock Analysis page.
