Realty Income Prices Public Offering Of 10.5 Mln Shares At $57.05/Shr - Quick Facts

(RTTNews) - Realty Income Corp (O) announced that it has priced public offering of 10.5 million shares of $57.05 per share and is expected to close January 14, 2021.

The company granted underwriters a 30-day option to purchase up to 1,575,000 additional shares of common stock.

The company expects offering net proceeds, after underwriting discounts and commissions, but before expenses, will be about $582.3 million.

The joint book-running managers for the offering are BofA Securities, Morgan Stanley, Wells Fargo Securities and Citigroup.

The company intends to use offering net proceeds, along with available cash and additional borrowings as necessary, to fund property acquisitions and the remaining net proceeds will be used for general corporate purposes and working capital.