Lamar Advertising enters $400M at-the-market equity distribution agreement

LAMAR ADVERTISING CO/NEW

Agreement with J.P. Morgan, Wells Fargo, Truist, SMBC Nikko, Scotia Capital as sales agents.
Company may sell up to $400M of Class A common stock; no obligation to sell any shares.
Replaces prior agreement with substantially similar terms that expired.
Proceeds to be used for general corporate purposes, including debt repayment and acquisitions.
Sales agents receive commission up to 2.0% of gross sales price per share.

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