American Healthcare REIT drops on commencing stock offering

American Healthcare REIT

18/09/2024 22:22

** Shares of American Healthcare REIT  AHR.N  down 4.4% at
$23.45 in after hours trading on news of equity offering
    ** Irvine, California-based firm commences 14.5 mln share
offering
    ** Co expects to use net proceeds to exercise its option to
purchase its joint venture partner's 24% minority interest in
Trilogy Holdings, LLC and repay some debt
    ** BofA, Morgan Stanley and KeyBanc jt bookrunners for
offering
    ** AHR owns clinical healthcare properties, focusing on
medical office buildings, skilled nursing and senior housing
facilities
    ** In Feb, AHR went public after selling 56 mln shares in
IPO priced at $12
    ** Co has ~132.86 mln shares outstanding as of Sept 13
    ** Shares on Weds closed up 0.9% at $24.53

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))