Realty Income (NYSE:O) has boosted the volume of its previously announced share issue by more than 30% and slapped a price tag on it. The company announced that it is floating 8.5 million shares of its common stock, instead of the previously announced 6.5 million, and the price is to be $40.63 per share. The company has also upsized the 30-day purchase option for the issue's underwriters to up to an additional 1.275 million shares to cover overallotments, if any. The company had originally anticipated an option of up to 975,000 shares.

Realty Income said it expects to use the $329 million estimated net proceeds from the issue to retire debt from its $1 billion acquisition facility. That credit line has been, and will be, used to fund real estate assets.

The joint book-running managers of the offering are Bank of America's Merrill Lynch, Morgan Stanley, JPMorgan Chase unit J.P. Morgan, Leucadia's Jefferies, Royal Bank of Canada division RBC Capital Markets, UBS Investment Bank, and the Securities arm of Wells Fargo. The issue is expected to close on Friday.

At the moment, Realty Income has just over 196 million shares outstanding, and its stock most recently closed at $40.95 per share.