Summary by Moomoo AI
On February 22, 2024, Realty Income Corporation, a real estate investment trust listed on the New York Stock Exchange under the symbol 'O', announced the initiation of a sales agreement with a consortium of financial institutions. The agreement allows for the potential sale of up to 120 million shares of the company's common stock. The sales may be conducted through ordinary brokerage transactions, privately negotiated deals, or other lawful means, at market prices or negotiated prices. Realty Income may also enter into forward sale agreements with certain institutions, where the company may settle in cash, shares, or a combination thereof. The company has terminated its previous 'at-the-market' program, having sold over 43 million shares from it. Proceeds from the new sales agreement are intended for general corporate purposes, including debt repayment, property acquisition and development, and other business activities. The agreement was filed with the SEC and includes the possibility of selling shares directly to the agents acting as principals.