American Healthcare REIT prices upsized equity offering, shares dip

American Healthcare REIT

19/09/2024 12:41

** American Healthcare REIT's  AHR.N  shares down 1.4%
premarket to $24.19 after equity offering exceeds co's
expectations
    ** Irvine, California-based firm late Weds announced pricing
17.4 mln shares at $23.55, which equates to ~$410 mln gross
raise
    ** Offering size boosted from 14.5 mln shares, priced at 4%
discount to last sale
    ** Co plans to use net offering proceeds to purchase joint
venture partner's 24% minority stake in Trilogy Holdings
    ** 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
    ** Co went public in Feb after selling 56 mln shares in IPO
priced at $12
    ** Co has ~132.86 mln shares outstanding as of Sept 13

 (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))