Realty Income Corp. (O: Quote), said that in addition to the upsized 15 million common stock offering that closed Monday, an additional 2.25 million shares were purchased by the underwriters upon the exercise of their over-allotment option.
As a result, the company sold a total of 17.25 million shares in the offering, resulting in net proceeds, after certain expenses, of about $756 million.
The company expects to use the proceeds to repay borrowings under its $1 billion acquisition credit facility, and any remaining proceeds will be used for other general purposes and working capital, including acquisitions and the repayment of debt.
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by RTT Staff Writer
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