Ventas, Inc. (VTR) Announces 5.2 Million Share Sale to Citigroup (C)
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Ventas, Inc. (NYSE: VTR) has agreed to sell 5,200,000 shares of its common stock to Citigroup (NYSE: C), as sole underwriter, in an underwritten public offering. The Company has also granted Citigroup a 30-day option to purchase up to an additional 780,000 shares of common stock to cover overallotments, if any.
The last reported sales price of the Company’s common stock on the New York Stock Exchange on May 31, 2012 was $58.82. The Company intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions or investments, if any.
The last reported sales price of the Company’s common stock on the New York Stock Exchange on May 31, 2012 was $58.82. The Company intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions or investments, if any.
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