National Healthcare Properties completes $462 million public offering

National Healthcare Properties Inc. completed its public offering of 38.5 million shares of Class A common stock at $12.00 per share, raising approximately $462 million. The company's shares began trading on the Nasdaq Global Market under the symbol "NHP" (NASDAQ: NHP).

The real estate investment trust granted underwriters a 30-day option to purchase up to an additional 5.8 million shares to cover overallotments. National Healthcare Properties plans to use net proceeds to repay approximately $186 million of outstanding debt under its revolving credit facility, fund potential property acquisitions and support general corporate purposes.

Wells Fargo Securities, Morgan Stanley and BMO Capital Markets served as lead book-running managers for the offering. Goldman Sachs & Co. LLC, RBC Capital Markets, Baird, Capital One Securities, Fifth Third Securities, Huntington Capital Markets and KeyBanc Capital Markets acted as bookrunners. Credit Agricole CIB and Synovus served as co-managers.

National Healthcare Properties focuses on acquiring healthcare real estate, particularly senior housing and outpatient medical facilities in the United States. The Securities and Exchange Commission declared the registration statement for the offering effective.

The information is based on a company press release.

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