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Friday, Sep 30, 2022
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Realty Income Conducts $450 Million Stock Offering

Realty Income Corp. is expected to close Oct. 7 on a public offering of common stock with net proceeds of approximately $450 million, the San Diego-based company announced.

Announced Oct. 1, the offering calls for the sale of 10 million shares at $46.88 per share. A company statement said the real estate investment trust has granted underwriters a 30-day option to purchase up to 1.5 million additional shares.

Officials said Realty Income expects to use net proceeds from the offering to repay borrowings under its $2 billion unsecured revolving credit facility and for other general corporate purposes and working capital, which may include acquisitions.

Headquartered in Carmel Valley, Realty Income Corp. (NYSE: O) invests in retail, industrial and related commercial properties.

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