American Healthcare REIT launches 8.1 million share public offering

American Healthcare REIT Inc. (NYSE: AHR) announced it has commenced an underwritten public offering of 8.1 million shares of common stock on a forward basis. RBC Capital Markets is serving as the underwriter for the offering.

The company will enter into a forward sale agreement with RBC Capital Markets or an affiliate regarding the 8.1 million shares. The underwriter has a 30-day option to purchase up to an additional 1.215 million shares, which would trigger an additional forward sale agreement if exercised.

Under the forward sale structure, the forward purchaser will borrow shares from third parties and sell them to the underwriter. The forward purchaser is not required to proceed if it cannot borrow shares using commercially reasonable efforts, if borrowing costs exceed a specified threshold, or if certain conditions are not met.

American Healthcare REIT plans to physically settle the forward sale agreement within approximately 18 months from the prospectus supplement date. The company will not receive proceeds from the initial share sale by the forward purchaser but expects to receive net proceeds upon settlement of the forward sale agreement.

The company plans to contribute any net proceeds from the settlement to its operating partnership in exchange for OP Units. The operating partnership intends to use the proceeds for general corporate purposes, including potential future investments.

The shares will be offered under the company's effective shelf registration statement filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

American Healthcare REIT is a real estate investment trust that owns and operates clinical healthcare real estate, focusing on senior housing communities, skilled nursing facilities, and outpatient medical buildings in the United States, United Kingdom, and Isle of Man.

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