other material
confidence high
sentiment neutral
materiality 0.30
Easterly Government Properties updates ATM equity program, adds forward sale capability
Easterly Government Properties, Inc.
- Filed prospectus supplement to shelf registration; $85M of $300M ATM capacity already used, $215M remains.
- Entered amended equity distribution agreements with nine sales agents including Citigroup, BMO, Jefferies, etc.
- Program now allows contingent and non-contingent forward transactions with multiple forward purchasers.
- Commissions capped at 2.0% of gross sales price for sales agents; forward sellers receive similar commission via reduced forward price.
- No immediate proceeds from forward sales; company may receive contingency premiums on contingent forward transactions.