Elme Communities establishes $350M at-the-market equity offering program, terminates prior ATM with $340M unsold

Elme Communities

New ATM program under equity distribution agreement allows sale of up to $350M in common shares through multiple agents.
Prior ATM program terminated; approximately $340M remained unsold under it.
Net proceeds intended for general corporate purposes including property acquisitions, improvements, and debt repayment.
Company also filed prospectus supplement for Dividend Reinvestment and Share Purchase Plan for dividend reinvestment and share purchases.
Agents include Wells Fargo Securities, BNY Mellon, Citigroup, Goldman Sachs, KeyBanc, TD Securities, and Truist.

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