Lamar Advertising Co (NASDAQ:LAMR) announced this week in an 8-K filing that they  have entered into an equity distribution agreement involves major financial institutions, h J.P. Morgan Securities, LLC, Wells Fargo Securities LLC, Truist Securities, Inc., SMBC Nikko Securities America, Inc. and Scotia Capital (USA) Inc. as its
sales agents.

Under the terms of the Sales Agreement, the Company may, from time to time, issue and sell shares of its Class A common stock, par value $0.001 per share (the “Class A Common Stock”), having an aggregate offering price of up to $400.0 million through the Sales Agents as either agents or principals. The Sales Agreement replaces a prior sales agreement with substantially similar terms between the Company and certain sales agents, which expired by its terms.

The Company intends to use the net proceeds, if any, from the sale of the Class A Common Stock pursuant to the Sales Agreement for general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of existing indebtedness, working capital, capital expenditures, acquisition of outdoor advertising assets and businesses and other related investments.

SignValue Take: Even though this is a renewal of an existing agreement, the ability to draw additional equity ties nicely into the Insider May discussion indicating that Lamar is well positioned to make a big splash in the acquisitions market in 2025.

SignValue can be reached at (480) 657-8400 or info@signvalue.com for a confidential consultation.

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