Forward Sale Agreement
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MDU Resources Prices Public Offering of 10,152,284 Shares of Common Stock with a Forward Component
Prnewswire· 2025-12-04 06:05
Core Viewpoint - MDU Resources Group, Inc. has announced a public offering of 10,152,284 shares of its common stock at a price of $19.70 per share, with the offering expected to close on or about December 5, 2025 [1][2]. Group 1: Offering Details - The underwriters for the offering include Wells Fargo Securities, BofA Securities, and J.P. Morgan, with TD Securities also acting as a bookrunner [2]. - The underwriters have the option to purchase an additional 1,522,842 shares, which may lead to further forward sale agreements [1][2]. - MDU Resources will not initially receive proceeds from the sale of shares by the forward sellers to the underwriters [4]. Group 2: Forward Sale Agreements - MDU Resources has entered into forward sale agreements with Wells Fargo Bank, Bank of America, and JPMorgan Chase Bank, agreeing to sell 10,152,284 shares at the initial forward sale price equal to the offering price [3]. - Settlement of the forward sale agreements is expected to occur within 24 months following the offering's completion, with options for cash or net share settlement [3]. Group 3: Use of Proceeds - If MDU Resources opts for physical settlement of the forward sale agreements, it plans to use the net proceeds for general corporate purposes, including debt repayment, capital expenditures, and acquisitions [4].
American Healthcare REIT Announces Pricing of Public Offering of Common Stock
Prnewswire· 2025-11-21 04:05
Core Viewpoint - American Healthcare REIT, Inc. announced a public offering of 8,100,000 shares of common stock, expecting gross proceeds of approximately $388.8 million, with the offering set to close on November 24, 2025 [1][2]. Group 1: Offering Details - The offering is underwritten by RBC Capital Markets, which has a 30-day option to purchase an additional 1,215,000 shares [2]. - If the underwriter's option is fully exercised, the total shares offered could increase to 9,315,000 [3][4]. - The company will not receive proceeds from shares sold by the forward purchaser, but expects to contribute net proceeds to its operating partnership for general corporate purposes [5]. Group 2: Forward Sale Agreement - The forward purchaser is expected to borrow and sell the shares to the underwriter, with conditions that may exempt them from borrowing if certain thresholds are not met [3]. - The company intends to physically settle the forward sale agreement within approximately 18 months from the date of the prospectus supplement [4]. Group 3: Company Overview - American Healthcare REIT, Inc. is a real estate investment trust focused on acquiring, owning, and operating a diversified portfolio of clinical healthcare real estate, primarily in senior housing, skilled nursing facilities, and outpatient medical buildings across the U.S., U.K., and Isle of Man [8].
Ameren Announces Pricing of Common Stock Offering with a Forward Component
Prnewswire· 2025-05-13 03:22
Core Points - Ameren Corporation announced the pricing of an underwritten offering of 5,550,416 shares of its common stock at $94.00 per share [1] - The offering is being managed by several financial institutions, including Goldman Sachs, J.P. Morgan, Barclays, and Wells Fargo [1] - The closing of the offering is expected to occur on or about May 14, 2025 [1] Offering Details - Ameren entered into forward sale agreements with multiple counterparties for the issuance of 5,550,416 shares [2] - Underwriters have a 30-day option to purchase an additional 832,562 shares under the same terms [2] - If the option is exercised, Ameren expects to enter into additional forward sale agreements for the extra shares [2] Settlement and Use of Proceeds - Settlement of the forward sale agreements will occur on or before January 15, 2027, with options for cash or net share settlement [3] - Proceeds from the settlement will be used for general corporate purposes, including repayment of short-term debt [3] Company Overview - Ameren Corporation serves 2.5 million electric customers and over 900,000 natural gas customers across a 64,000-square-mile area [5] - The company operates through its subsidiaries, Ameren Missouri and Ameren Illinois, providing various utility services [5]
Agree Realty Announces Exercise of Underwriters' Option and Closing of Forward Offering of Common Stock
Prnewswire· 2025-04-25 20:05
Core Viewpoint - Agree Realty Corporation has successfully completed a public offering of 5,175,000 shares of its common stock, including the full exercise of the underwriters' option to purchase additional shares, at a public offering price of $75.70 per share [1][3]. Group 1: Offering Details - The offering was managed by BofA Securities as the sole book-running manager, with several firms acting as co-managers [2]. - The forward sale agreement with Bank of America allows the company to deliver the shares at a future date, specifically no later than October 26, 2026, while receiving cash proceeds based on the offering price minus underwriting discounts [3][4]. - The company has not yet received any proceeds from the sale of shares, as the forward purchaser will handle the initial sale to underwriters [4]. Group 2: Use of Proceeds - The company plans to use any net proceeds from the future settlement of the forward sale agreement for general corporate purposes, including property acquisitions, development activities, or repayment of outstanding debt [4]. Group 3: Company Overview - Agree Realty Corporation is a publicly traded real estate investment trust (REIT) focused on acquiring and developing properties leased to leading omni-channel retail tenants [7]. - 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 [7].
Agree Realty Announces Pricing of Forward Common Stock Offering
Prnewswire· 2025-04-24 01:50
Core Viewpoint - Agree Realty Corporation has announced a public offering of 4,500,000 shares of common stock at a price of $75.70 per share, with an option for the underwriter to purchase an additional 675,000 shares, expected to close around April 25, 2025 [1][2]. Group 1: Offering Details - The offering involves a forward sale agreement with Bank of America, allowing for the potential sale of up to 5,175,000 shares if the underwriter fully exercises its option [3]. - The Company will not receive immediate proceeds from the forward sale, but expects to use future net proceeds for general corporate purposes, including property acquisitions and debt repayment [4]. 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, owning a portfolio of 2,422 properties across all 50 states, totaling approximately 50.3 million square feet of gross leasable area as of March 31, 2025 [7].
Agree Realty Announces Common Stock Offering
Prnewswire· 2025-04-23 20:05
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].