Realty Income Announces Pricing Of Upsized 8.0 Mln Shares For Expected Proceeds Of About $519 Mln

(RTTNews) - Realty Income Corporation (O) said that it has priced an underwritten public offering of 8 million shares of the company's common stock for expected gross proceeds of about $519 million. The offering is expected to close on July 6, 2021.

The underwriters of the offering have been granted a 30-day option to purchase up to 1.20 million additional shares of common stock.

The company plans to use net proceeds from the offering to repay borrowings under its $3.0 billion revolving credit facility and/or $1.0 billion commercial paper program, and, to the extent not used for that purpose, to fund potential investment opportunities and/or for other general corporate purposes.