Apple Hospitality REIT (APLE) has released an update.
The Company has partnered with a group of financial firms to potentially sell up to $500 million of its common shares on an as-needed basis under an ATM Program, aiming for flexibility in raising capital. The shares will be sold following the SEC’s regulations, and proceeds are intended for a variety of corporate purposes, including debt repayment, property acquisitions, and general working capital needs. The agreement also includes indemnity provisions and a commission for the agents involved, not exceeding 2% of the gross sales proceeds. This move follows the closure of a previous equity offering program, with some shares remaining unsold.
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