Today, Mid-America Apartment (NYSE:MAA) Communities, Inc., a real estate investment trust (REIT) based in Germantown, Tennessee, announced an amendment to its Equity Distribution Agreement. This modification allows the company to potentially sell up to 4 million shares of common stock, par value $0.01 per share.
The revision to the agreement, dated August 1, 2024, includes the addition of new Managers and Forward Purchasers, reflecting the filing of a new shelf registration statement effective May 2, 2024. The Managers now include Wells Fargo (NYSE:WFC) Securities, LLC, Citigroup Global Markets Inc., and others, with the Forward Purchasers comprising institutions such as Mizuho Markets Americas LLC and The Toronto-Dominion Bank.
The shares will be offered pursuant to the 2024 Registration Statement and a related prospectus supplement filed with the SEC on the same day. This arrangement provides Mid-America Apartment with flexibility to sell shares over time, as market conditions warrant. The company has clarified that this report does not constitute an offer to sell or a solicitation of an offer to buy the shares.
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