Acadia Realty Trust Prices Nine Million Share Offering; Stock Declines Pre-Bell

MT Newswires Live

06/10

Acadia Realty Trust (AKR) said Wednesday that it has priced an underwritten offering of nine million shares of beneficial interest at $21.95 each.

The real estate investment trust said the underwriters have a 30-day option to buy up to an additional 1,350,000 shares. It said it expects the offering to close on Thursday.

BofA Securities, Jefferies, Truist Securities, and Wells Fargo Securities are joint book-running managers for the offering.

Shares of Acadia Realty Trust were down more than 3% pre-bell.

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