Realty Income (O) Prices 9M Share Common Offering at $77.40/Sh

Realty Income Corporation (NYSE: O) today announced that a public offering of 9,000,000 shares of the company's common stock has been priced at a public offering price of $77.40 per share and is expected to close March 2, 2020. Net proceeds from the offering, after underwriting discounts and commissions, will be approximately $677 million. The company also granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of common stock.

The company intends to use the net proceeds from the offering to repay borrowings outstanding under its $3.0 billion unsecured revolving credit facility and, to the extent not used for that purpose, to fund potential investment opportunities and/or for other general corporate purposes.

The underwriters for the offering are: BofA Securities, Morgan Stanley, Wells Fargo Securities, RBC Capital Markets, Barclays, Citigroup, Credit Suisse, Goldman Sachs & Co. LLC, Jefferies, J.P. Morgan, Mizuho Securities, and Stifel (joint book-running managers), Regions Securities LLC, TD Securities, and UBS Investment Bank (co-lead managers), BTIG, SunTrust Robinson Humphrey, Baird, BMO Capital Markets, BNY Mellon Capital Markets, LLC, and Scotiabank (senior co-managers), Comerica Securities, Ramirez & Co., Inc., D.A. Davidson & Co., Evercore ISI, Janney Montgomery Scott, Ladenburg Thalmann, Moelis & Company LLC, MUFG, and Raymond James (co-managers).

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