WASHINGTON (dpa-AFX) - Kimco Realty Corp. (KIM) announced the establishment of an at-the-market (ATM) continuous offering program. Under this program, the Company may offer and sell shares of its common stock, par value $0.01 per share, with an aggregate gross sales price of up to $750 million.
The shares may be sold through a group of financial institutions acting as sales agents and/or forward sellers, including BofA Securities, Barclays Capital, BMO Capital Markets, BNP Paribas Securities, BNY Mellon Capital Markets, BTIG, Citigroup Global Markets, Deutsche Bank Securities, Jefferies, J.P. Morgan Securities, Mizuho Securities USA, Morgan Stanley, Nomura Securities International, RBC Capital Markets, Regions Securities, Scotia Capital (USA), TD Securities (USA), Truist Securities, and Wells Fargo Securities.
The company said it plans to use any net proceeds from the program and the settlement of any Forward Sale Agreement for general corporate purposes, including, without limitation, the funding of future acquisitions, the funding of development and redevelopment costs, the redemption, from time to time, of depositary shares representing one or more class or series of the Company's preferred stock and the reduction, from time to time, of the Company's outstanding indebtedness, including borrowings under the company's revolving credit facility.
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