Latham & Watkins Advises on Agree Realty’s Upsized US$325.6 Million Forward Common Stock Offering

Agree Realty Corporation (NYSE: ADC), a publicly traded real estate investment trust, has announced the pricing of its public offering of 4,400,000 shares of its common stock, all of which are being offered in connection with forward sales agreements, at a public offering price of US$74 per share. The company also granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of common stock. The offering was upsized from the previously announced offering size of 4,000,000 shares of common stock, and the offering is expected to close on or about October 28, 2024, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by partners Julian Kleindorfer, Lewis Kneib, and Jonathan Sarna, with associates Andrew Bentz, Will Coughlin, and Steve Hess. Advice was also provided on equity derivatives matters by partner Reza Mojtabaee-Zamani, with associates Jack Neff and Daniel Weiss; and on tax matters by partner Ana O’Brien, with associate Joe Marcus.