Strawberry Fields REIT (STRW) Prices 3.33M Share Offering

Strawberry Fields REIT, Inc. (NYSE: STRW) today announced that it has priced an underwritten public offering of 3,333,334 shares of its common stock for total gross proceeds (before underwriters' discounts and commissions and offering expenses) of approximately $35 million.

"We are pleased with the outcome of our first public offering, generating significant proceeds to advance our strategic objectives while increasing the Company's public float. We are also happy to welcome many new owners of our stock and look forward to a long-term partnership with these investors," said Moishe Gubin, Chairman and Chief Executive Officer.

The offering is expected to close on December 6, 2024, subjected to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 500,000 shares at the public offering price, less underwriting commissions.

The Company intends to contribute most of the net proceeds to Strawberry Fields Realty, LP, its operating partnership. The operating partnership will in turn use the proceeds from this offering to finance acquisitions of new investments, and for general corporate purposes. The Company will also retain a portion of the net proceeds to pay down existing debt and for general corporate purposes.

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