American Healthcare REIT to raise about $672 mln in US IPO

American Healthcare REIT

07/02/2024 02:58

Feb 6 (Reuters) - American Healthcare REIT said on
Tuesday it will raise about $672 million in an initial public
offering (IPO) in New York and plans to use most of that to pay
down debt.
    The real estate investment trust said it plans to sell 56
million shares priced at $12 each, the lower end of its targeted
range of $12 to $15.
    It said it plans to use the net proceeds to repay about $623
million of the amount outstanding under its credit facility.
    Based in Irvine, California, the REIT owns a portfolio of
several clinical healthcare properties, including medical office
buildings, skilled nursing facilities, hospitals and senior
housing facilities.
    It employs 112 people and had nearly $4.6 billion worth of
assets as of Sept. 30.

 (Reporting by Devika Nair in Bengaluru; Editing by Savio
D'Souza)
 ((Devika.MadhusudhananNair@thomsonreuters.com;))