Agree Realty Announces $1.25B At-The-Market Equity Distribution Agreement
Portfolio Pulse from Benzinga Newsdesk
Agree Realty Corporation has announced a $1.25 billion at-the-market equity distribution agreement with multiple financial institutions, allowing the company to issue and sell shares of its common stock. This new agreement replaces a previous one from February 2024.
October 25, 2024 | 8:29 pm
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Agree Realty Corporation has entered into a $1.25 billion at-the-market equity distribution agreement, allowing it to issue and sell shares of its common stock. This move could impact the stock price as it increases the supply of shares in the market.
The announcement of a $1.25 billion ATM equity distribution agreement by Agree Realty Corporation suggests an increase in the supply of shares, which could lead to downward pressure on the stock price in the short term. The termination of the previous agreement indicates a strategic shift in capital raising efforts.
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