Getty Realty launches 3.5M share forward equity offering at $30.10 per share

GETTY REALTY CORP /MD/

Offering of 3,500,000 shares via forward sale agreements at $30.10/share; underwriters have 30-day option for 525,000 more.
Initial forward sale price to the company is $28.896 per share, subject to adjustments; physical settlement expected within ~1 year.
Company expects to use net proceeds from settlement for property acquisitions, credit facility repayment, and general corporate purposes.
No immediate proceeds to Getty; forward purchasers borrowed and sold shares; cash received only upon physical settlement.

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