Acadia Realty Trust Announces Sale of 3MCommon Shares
Acadia Realty Trust (NYSE: AKR) today announced the sale of 3,000,000 shares of beneficial interest of the Company (“Shares”) to Barclays, as sole underwriter, in a public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission. The Company has also granted the underwriter an option to purchase up to 450,000 additional Shares.
The Company intends to use the net proceeds from the sale of the Shares primarily for future acquisitions as well as general corporate purposes.
Barclays is acting as the sole underwriter for the offering. A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone 1-888-603-5847, or by emailing Barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.