Acadia Realty Trust Priced Upsized Offering of 5M Shares (Up From Prior $4.5M) At $23.25/Share For Settlement of Forward Sale Agreements
Portfolio Pulse from Benzinga Newsdesk
Acadia Realty Trust has announced an upsized offering of 5 million shares at $23.25 per share, with a 30-day option for underwriters to purchase an additional 750,000 shares. The offering is linked to forward sale agreements and is expected to close on October 2, 2024. The company plans to use future proceeds for general corporate purposes.
October 01, 2024 | 10:34 am
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Acadia Realty Trust has increased its share offering to 5 million shares at $23.25 each, with a 30-day option for an additional 750,000 shares. The offering is tied to forward sale agreements and is expected to close on October 2, 2024. The company plans to use the proceeds for general corporate purposes.
The upsized offering indicates a strong demand for Acadia's shares, which could be seen as a positive sign by investors. However, the immediate impact on the stock price may be neutral as the company will not initially receive proceeds from the sale. The future use of proceeds for corporate purposes could potentially benefit the company in the long term.
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