RTTNews | Jun 11, 2021 12:13PM EDT

12:12 Friday, June 11, 2021 (RTTNews.com) - The Michigan-based retail chain, Agree Realty Corporation (ADC), is down 3% on Friday morning.

The company announced that it will offer 4 million common shares to raise $286 million. The offering is reported to close on or about June 15. The company intends to utilize the funds raised to reduce outstanding in the credit facility as well as to acquire property and general capital.

The shares are trading hands at $71.59, down 2.59% or $2.13 after being $73.72 on the bell on Thursday. The company shares opened at $71.15 in the morning and in the 52-week period, the shares have ranged from $61.27 to $73.90.

Read the original article on RTTNews ( https://www.rttnews.com/3201820/stock-alert-agree-reality-down-3.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved