Deal Details
Realty Income Completes $689 Million Follow-On Offering
Summary
Realty Income Corporation (“Realty Income” or the “Company”) (NYSE: O) recently completed a follow-on offering of 12,075,000 shares of common stock (including exercise of the overallotment option) at a price of $57.05 per share, generating net proceeds of approximately $669.6 million. The Company intends to use the proceeds to fund the acquisition of various properties in the United States and the United Kingdom and for general business purposes.
Baird served as a co-manager on this offering.
About
Realty Income Corporation is an S&P 500 company dedicated to providing stockholders with dependable monthly dividends that increase over time. Realty Income is structured as a REIT, with their monthly dividends supported by the cash flow generated from real estate owned under long-term, net lease agreements with regional and national commercial tenants. Realty Income has in-house acquisition, portfolio management, asset management, real estate research, credit research, legal, finance and accounting, information technology, and capital markets capabilities. As of September 30, 2020, they owned a diversified portfolio of 6,588 properties located in 49 states, Puerto Rico and the United Kingdom with over 108.5 million square feet of leasable space leased to 600 different commercial tenants doing business in 51 separate industries.CONTACT US TO LEARN MORE
- Date
- January 2021
- Company
- Realty Income Corporation
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Target Geography
- North America
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