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Agree Realty expects to net $109.6M in common stock offering

Agree Realty Corp.closed a public offeringof 2,875,000 shares of its common stock, expecting total net proceeds of approximately$109.6 million.

Underwriters exercised in full their option to acquire additionalshares.

Agree Realty plans to use the net proceeds to pay down its revolvingcredit facility, to finance property acquisitions and development activity, forworking capital and for general corporate purposes.

Raymond James, Jefferies and Wells Fargo Securities acted asjoint book-running managers; Baird, Stifel and Janney Montgomery Scott served assenior co-managers; and BTIG, Capital One Securities, Ladenburg Thalmann and Wunderlichserved as co-managers for the offering.