AGREE REALTY CORPORATION (NYSE:ADC) Files An 8-K Other Events

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AGREE REALTY CORPORATION (NYSE:ADC) Files An 8-K Other Events

Item 8.01.

Other Events.

On June 13, 2017, Agree Realty Corporation, a Maryland
corporation (the Company), and Agree Limited Partnership, a
Delaware limited partnership, for which the Company is the sole
general partner, entered into an underwriting agreement (the
Underwriting Agreement) with Raymond James Associates, Inc. and
Wells Fargo Securities, LLC as representatives of the several
underwriters listed on Schedule I attached thereto (the
Underwriters), relating to the issuance and sale of 2,415,000
shares (the Shares) of the Companys common stock, par value
$0.0001 per share, which includes 315,000 shares issued to the
option granted by the Company to the Underwriters as described
below. The Company granted the Underwriters a 30-day option to
purchase up to an additional 315,000 shares of common stock,
which the Underwriters elected to exercise in full on June 13,
2017.

The offering closed on June 16, 2017 and resulted in net proceeds
to the Company of approximately $108.0 million, after deducting
the underwriting discount and the estimated offering expenses
payable by the Company. The Company issued the Shares to the
Companys registration statement on Form S-3 (File No. 333-218476)
which became effective upon filing with the Securities and
Exchange Commission on June 2, 2017. A copy of the Underwriting
Agreement is filed herewith as Exhibit 1.1 to this Current Report
on Form 8-K and is incorporated herein by reference. The summary
set forth above is qualified in its entirety by reference to
Exhibit 1.1.

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description
1.1 Underwriting Agreement, dated as of June 13, 2017, among
Agree Realty Corporation and Agree Limited Partnership, on
the one hand, and Raymond James Associates, Inc. and Wells
Fargo Securities, LLC as representatives of the several
underwriters listed on Schedule I attached thereto, on the
other hand.
5.1 Opinion of Ballard Spahr LLP regarding legality of the
Shares.
23.1 Consent of Ballard Spahr LLP (included in Exhibit 5.1).


About AGREE REALTY CORPORATION (NYSE:ADC)

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest. The Company’s portfolio consists of over 280 properties located in over 40 states and totaling approximately 5.2 million square feet of gross leasable area. Its portfolio includes over 275 net lease properties and over three community shopping centers. The Company’s primary tenant is Walgreens Boot Alliance, Inc. (Walgreens), which operates a chain of drugstores in the United States. The Company’s business objective is to generate consistent shareholder returns by investing in and actively managing a diversified portfolio of retail properties net leased to industry tenants.

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