Today, Mid-America Apartment (NYSE:) 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 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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