IPO - AGREE REALTY CORP

Form Type: 8-K

Filing Date: 2025-04-25

Corporate Action: Ipo

Type: New

Accession Number: 000110465925039411

Filing Summary: On April 23, 2025, Agree Realty Corporation entered into a forward sale agreement with Bank of America, N.A., and an underwriting agreement with multiple parties for the issuance and sale of up to 5,175,000 shares of common stock at a public offering price of $75.70 per share, with an option for underwriters to purchase an additional 675,000 shares. The sale of these shares closed on April 25, 2025. The proceeds are intended for general corporate purposes, including property acquisitions, development activities, and repayment of debt. As of April 16, 2025, there was no outstanding balance on the revolving credit facility, while $350 million remains under the commercial paper program. The offering was conducted under the company's registration statement that became effective on May 5, 2023. The Forward Sale Agreement and Underwriting Agreement are filed as exhibits to this report.