Agree Realty Slips On New Fund Raise Plan By


© Reuters

By Dhirendra Tripathi – Agree Realty (NYSE:) stock fell 3.4% in Friday’s premarket trading a day after the company disclosed pricing its 4-million share offering for expected gross proceeds of approximately $286 million.

The company intends to use the net proceeds of the offering to reduce amounts outstanding under its revolving credit facility, to fund property acquisitions and development activity, for working capital and for general corporate purposes.

The targeted proceeds do not include expenses to be incurred on the offering.

The company expects to grant the underwriter a 30-day option to purchase up to an additional 600,000 shares of common stock, with the offering expected to close on or about June 15.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.