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Agree Realty Corp. – ‘8-K’ for 9/29/22

On:  Monday, 10/3/22, at 4:15pm ET   ·   For:  9/29/22   ·   Accession #:  1104659-22-105248   ·   File #:  1-12928

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/03/22  Agree Realty Corp.                8-K:8,9     9/29/22   15:925K                                   Toppan Merrill/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     34K 
 2: EX-1.1      Underwriting Agreement or Conflict Minerals Report  HTML    132K 
 3: EX-1.2      Underwriting Agreement or Conflict Minerals Report  HTML    150K 
 4: EX-1.3      Underwriting Agreement or Conflict Minerals Report  HTML    239K 
 5: EX-5.1      Opinion of Counsel re: Legality                     HTML     24K 
10: R1          Cover                                               HTML     51K 
13: XML         IDEA XML File -- Filing Summary                      XML     13K 
11: XML         XBRL Instance -- tm2227077d1_8-k_htm                 XML     20K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 7: EX-101.DEF  XBRL Definitions -- adc-20220929_def                 XML     74K 
 8: EX-101.LAB  XBRL Labels -- adc-20220929_lab                      XML    103K 
 9: EX-101.PRE  XBRL Presentations -- adc-20220929_pre               XML     71K 
 6: EX-101.SCH  XBRL Schema -- adc-20220929                          XSD     14K 
14: JSON        XBRL Instance as JSON Data -- MetaLinks               27±    36K 
15: ZIP         XBRL Zipped Folder -- 0001104659-22-105248-xbrl      Zip    155K 


‘8-K’   —   Current Report


This is an HTML Document rendered as filed.  [ Alternative Formats ]



 iX:   C:   C:   C:   C:   C:   C:   C:   C:   C: 
 i 0000917251  i false 0000917251 2022-09-29 2022-09-29 0000917251 us-gaap:CommonStockMember 2022-09-29 2022-09-29 0000917251 adc:DepositarySharesMember 2022-09-29 2022-09-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM  i 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): October 3, 2022 ( i September 29, 2022)

 

 i AGREE REALTY CORPORATION

(Exact name of registrant as specified in its charter)

 

 i Maryland

(State or other jurisdiction of incorporation)

 

 i 1-12928

(Commission file number)

 i 38-3148187

(I.R.S. Employer Identification No.)

   

 i 70 E. Long Lake Road

 i Bloomfield Hills,  i MI

(Address of principal executive offices)

 i 48304

(Zip code)

 

(Registrant’s telephone number, including area code) ( i 248)  i 737-4190

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 i ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 i ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading
Symbol(s)
Name of each exchange on which registered
 i Common Stock, $.0001 par value  i ADC  i New York Stock Exchange
 i Depositary Shares, each representing one-thousandth of a share of 4.25% Series A Cumulative Redeemable Preferred Stock, $0.0001 par value  i ADCPrA  i New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

 

Emerging growth company  i ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 C: 

 

 

 

Item 8.01. Other Events.

 

September 2022 Forward Transaction

 

On September 29, 2022, Agree Realty Corporation, a Maryland corporation (the “Company”) entered into (a) forward sale agreements (the “Forward Sale Agreements”) with each of Morgan Stanley & Co. LLC and Citibank, N.A., as forward purchasers, and (b) an underwriting agreement (the Underwriting Agreement) with (i) Agree Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), for which the Company is the sole general partner, (ii) Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. (as agent for Citibank, N.A.), in their capacity as forward sellers, (iii) Morgan Stanley & Co. LLC and Citigroup Global Markets Inc., as representatives of the several underwriters named therein, and (iv) Morgan Stanley & Co. LLC and Citibank N.A., in their capacity as forward counterparties, relating to the issuance and sale of up to 5,750,000 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at a public offering price of $66.85 per share, including an option to purchase up to 750,000 additional shares of Common Stock which was exercised in full on September 30, 2022. The sale of the Shares closed on October 3, 2022.

 

The Shares were offered pursuant to the Company’s registration statement on Form S-3 (File No. 333-238729) which became effective upon filing with the Securities and Exchange Commission (“SEC”) on May 27, 2020. Copies of the Forward Sale Agreements and the Underwriting Agreement are filed herewith as Exhibits 1.1, 1.2, and 1.3, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. The summary set forth above is qualified in its entirety by reference to Exhibits 1.1, 1.2, and 1.3.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)        Exhibits

 

Exhibit Description
   
1.1 Forward Sale Agreement, dated as of September 29, 2022 between the Company and Morgan Stanley & Co. LLC.
1.2 Forward Sale Agreement, dated as of September 29, 2022 between the Company and Citibank, N.A.
1.3 Underwriting Agreement, dated as of September 29, 2022 by and among the Company, the Operating Partnership, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., as representatives of the several underwriters named therein, Morgan Stanley & Co. LLC and Citibank N.A. in their capacity as forward purchasers and Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. (as agent for Citibank, N.A.), in their capacity as forward sellers.
5.1 Opinion of Ballard Spahr LLP regarding the validity of the Shares to be issued and offered.
23.1 Consent of Ballard Spahr LLP (included in Exhibit 5.1).
104 Cover Page Interactive Data File

 

 C: 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  AGREE REALTY CORPORATION
       
  By: /s/ Peter Coughenour
    Name: Peter Coughenour
    Title: Chief Financial Officer and Secretary

 

Date: October 3, 2022

 

 C: 

 

 

 C: 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:10/3/22
9/30/22424B5
For Period end:9/29/22424B5
5/27/20424B5,  8-K,  S-3ASR,  S-8
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