07:48 AM EDT, 10/01/2024 (MT Newswires) -- (Updates with the latest stock movement in the last paragraph.)

Acadia Realty Trust ( AKR ) said Tuesday it priced an upsized underwritten offering of 5 million common shares at $23.25 per share.

The company said it granted underwriters a 30-day option to buy up to 750,000 additional shares. Acadia initially offered 4.5 million shares. The offering is set to close on Wednesday.

Acadia said it has entered into forward sale agreements with each of Wells Fargo Bank, National Association, Goldman Sachs and Jefferies or their affiliates and will not initially receive any proceeds from shares sold by forward purchasers.

Acadia stock was down nearly 0.6% in recent Tuesday premarket activity. It closed up 2.2% on Monday.

Price: 23.35, Change: -0.13, Percent Change: -0.55