Mid-America Apartment (NYSE:MAA) Communities Inc. (NYSE:MAA) has amended its equity distribution agreement, the company disclosed in a regulatory filing on Thursday. The amendment allows the real estate investment trust, which focuses on apartment communities, to potentially sell up to 4 million shares of common stock.
The revision to the agreement was made to reflect the filing of a new shelf registration statement, which became effective on May 2, 2024. It also adds Mizuho Securities USA LLC, TD Securities (USA) LLC, and BTIG, LLC as managers and includes them along with The Toronto-Dominion Bank as additional forward purchasers.
The amendment was executed to incorporate these new participants, modify certain terms, and address various administrative details. The shares will be offered under the new 2024 registration statement and a related prospectus supplement filed with the SEC on the same day as the amendment.
This move enables Mid-America Apartment Communities Inc. and its operating partnership, Mid-America Apartments, L.P., to engage in sales of common stock from time to time through Wells Fargo (NYSE:WFC) Securities, LLC, Citigroup Global Markets Inc., and other financial institutions.
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