other material
confidence high
sentiment neutral
materiality 0.35
Kimco Realty files $500M ATM equity sales program with 20 agents, forward sale option
KIMCO REALTY CORP
- ATM program allows sale of up to $500M of common stock; agents include BofA, Barclays, BMO, and 17 others.
- May enter forward sale agreements with 19 forward purchasers for borrowed shares; proceeds for acquisitions, debt reduction, preferred stock redemption.
- Filed shelf registration on Form S-3 and DRIP prospectus supplement for 1M shares under dividend reinvestment plan.
- Commission capped at 2% of gross sales price; no obligation to sell any shares or enter forward sale agreements.
- Risk factors cite integration of pending Weingarten Realty merger and COVID-19 impacts.