ESCONDIDO, Calif., March 26, 2014 /PRNewswire/ -- Realty Income Corporation (Realty Income), The Monthly Dividend Company ®, (NYSE: O), today announced that a public offering of 12,000,000 shares of the company's common stock has been priced at a public offering price of $39.96 per share, and is expected to close April 1, 2014. Net proceeds from the offering, after underwriting discounts and estimated offering expenses payable by the company and assuming no exercise of the underwriters' option, will be approximately $459.5 million. The offering was upsized from an original amount of 10,500,000 shares to the final offering size of 12,000,000 shares. The company has also granted the underwriters a 30-day option to purchase up to 1,800,000 additional shares of common stock. All of the shares are being sold by the company.
The company expects to use the net proceeds from the offering to repay borrowings under its $1.5 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions. The underwriters for the offering are: BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, RBC Capital Markets, J.P. Morgan, Jefferies and UBS Investment Bank (joint book-running managers), Baird, Citigroup, Credit Suisse and Raymond James (co-lead managers), BB&T Capital Markets, Piper Jaffray and Stifel (senior co-managers), and BNY Mellon Capital Markets, LLC, Janney Montgomery Scott, Ladenburg Thalmann & Co. Inc., Mitsubishi UFJ Securities, Moelis & Company and Oppenheimer & Co. (co-managers). A copy of the prospectus supplement and the related prospectus pertaining to the offering may be obtained from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department or email firstname.lastname@example.org; or Morgan Stanley, 180 Varick Street, 2 nd Floor, New York, New York, 10014, Attn: Prospectus Department; or Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: 1.800.326.5897 or email: email@example.com; or RBC Capital Markets, LLC, Attn: Equity Syndicate, Three World Financial Center, 200 Vesey St., 8 th Floor, New York, NY 10281-8098, telephone: 1.877.822.4089. These securities are offered pursuant to a Registration Statement that has become effective under the Securities Act. These securities are only offered by means of the prospectus included in the Registration Statement and the prospectus supplement related to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction where the offer, solicitation, or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.