Ventas, Inc. (NYSE: VTR) announced today the pricing of an underwritten registered public offering of 11,000,000 shares of its common stock at a public offering price of $62.75 per share. The underwriters have a 30-day option to purchase up to an additional 1,650,000 shares from the Company at the public offering price. The Company estimates that the gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, will be approximately $690.3 million, or $793.8 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about June 6, 2019, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering to fund a portion of its pending acquisition of substantially all of a CAD$2.4 billion seniors housing portfolio in Quebec, Canada in partnership with Le Groupe Maurice. The Company intends to use any net proceeds not used for such purpose, including if the acquisition is not completed, for working capital and other general corporate purposes, which may include funding acquisitions and investments or repaying indebtedness.

Morgan Stanley, Citigroup and J.P. Morgan are the joint book-running managers for the offering.