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AKR > SEC Filings for AKR > Form 8-K on 3-Apr-2013All Recent SEC Filings

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Form 8-K for ACADIA REALTY TRUST


3-Apr-2013

Other Events, Financial Statements and Exhibits


Item 8.01. Other Events.

At the Market ("ATM") Sales Agreement. On April 2, 2013, Acadia Realty Trust (the "Registrant") entered into an ATM Equity Offering Sales Agreement (the "Sales Agreement") with each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc. Goldman, Sachs & Co. and Wells Fargo Securities, LLC, which will act as sales agents (the "Sales Agents") to sell, from time to time, the Registrant's common shares of beneficial interest, par value $0.001 per share ("Common Shares"), having an aggregate sale price up to $150,000,000, through an "at the market" equity offering program.

Pursuant to the Sales Agreement, the Common Shares may be offered and sold through any of the Sales Agents in negotiated transactions or transactions that are deemed to be "at the market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended, including sales made by means of ordinary brokers' transactions (including on the New York Stock Exchange), or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or as otherwise agreed to with the applicable Sales Agent. The Sales Agreement provides that each Sales Agent will be entitled to compensation of up to 2.00% of the gross sales price of the Common Shares sold through such Sales Agent. The Registrant may also sell Common Shares to a Sales Agent as principal for its own account, at a price and discount to be agreed upon at the time of sale pursuant to a separate terms agreement. The Registrant has no obligation to sell any of the Common Shares under the Sales Agreement and may at any time suspend solicitation and offers under the Sales Agreement.

The Common Shares will be issued pursuant to the Registrant's shelf registration statement on Form S-3 (File No. 333-180607). The Registrant filed a prospectus supplement, dated April 2, 2013, with the Securities and Exchange Commission in connection with the offer and sale of the Common Shares being sold pursuant to this offering program.

A copy of the Sales Agreement is attached as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated by reference herein.




Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

1.1 ATM Equity Offering Sales Agreement, dated April 2, 2013, among the Registrant, on the one hand, and each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Wells Fargo Securities, LLC, on the other hand.

5.1 Opinion of Venable LLP.

23.1 Consent of Venable LLP (included in Exhibit 5.1).

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