CareTrust REIT (CTRE) Prices 5.5M Share Common Stock Offering for Proceeds of ~$73.4M

November 15, 2016 6:10 AM EST

Get daily under-the-radar research with's Stealth Growth Insider Get your 2-Wk Free Trial here.

CareTrust REIT, Inc. (Nasdaq: CTRE) announced the pricing of its underwritten public offering of 5,500,000 shares of common stock at a price to the public of $13.35 per share. The offering is expected to close on November 18, 2016, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock.

The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which in turn intends to use the net proceeds to fund pending acquisitions and may, in the interim, repay borrowings outstanding on the Company’s revolving credit facility.

Wells Fargo Securities, KeyBanc Capital Markets, Raymond James & Associates, Inc., BMO Capital Markets and Barclays are acting as joint book-running managers for the offering. RBC Capital Markets, Canaccord Genuity, Capital One Securities and Fifth Third Securities are acting as co-managers for the offering.

A shelf registration statement (including prospectus) relating to the Company’s common stock was previously filed with the Securities and Exchange Commission and has been declared effective.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Equity Offerings

Related Entities

KeyBanc, Raymond James, BMO Capital, RBC Capital, Barclays, Wells Fargo, Canaccord Genuity, Definitive Agreement

Add Your Comment