Agree Realty Announces Common Stock Offering

Core Viewpoint - Agree Realty Corporation has initiated an underwritten public offering of 4,500,000 shares of its common stock, with the potential for an additional 675,000 shares if the underwriter exercises its option [1][2]. Group 1: Offering Details - The company plans to enter into a forward sale agreement with Bank of America for the 4,500,000 shares, which could increase to 5,175,000 shares if the underwriter's option is fully exercised [2]. - The forward purchaser is expected to borrow and sell the shares to the underwriter, with the company intending to deliver the shares upon physical settlement of the forward sale agreement [2][3]. - The company will not receive any initial proceeds from the sale, but expects to use any future net proceeds for general corporate purposes, including property acquisitions and debt repayment [3]. Group 2: Company Overview - Agree Realty Corporation is a publicly traded real estate investment trust focused on acquiring and developing properties leased to leading omni-channel retail tenants [6]. - As of March 31, 2025, the company owned and operated a portfolio of 2,422 properties across all 50 states, totaling approximately 50.3 million square feet of gross leasable area [6].