02:19 PM EDT, 07/30/2024 (MT Newswires) -- Getty Realty ( GTY ) said Tuesday that it has priced its public offering of 3.5 million shares at $30.10 per share, sold on a forward basis in connection with forward sale agreements.

The forward purchasers and the company have also granted the underwriters, including BofA Securities and JPMorgan, a 30-day option to purchase up to an additional 525,000 shares. It expects to close the offering Wednesday.

Net proceeds from the offering and any proceeds from forward sale agreements will be used to acquire property, repay existing debt, cover working capital needs, and other general corporate purposes, Getty said.

Shares of Getty Realty ( GTY ) fell about 4.5% in recent trading.

Price: 30.09, Change: -1.42, Percent Change: -4.51