CareTrust REIT (CTRE) Announces 5.5M Share Common Stock Offering
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CareTrust REIT, Inc. (Nasdaq: CTRE) announced that, subject to market and other conditions, it intends to offer to sell 5,500,000 shares of its common stock in an underwritten public offering. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock. If exercised, all additional shares will be offered at the public offering price per share of common stock in the offering.
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 and Raymond James & Associates, Inc. are acting as joint book-running 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.
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Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesKeyBanc, Raymond James, Wells Fargo, Definitive Agreement
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