Sabra Health Care REIT down after pricing share offering

Sabra Health Care REIT

13/10/2021 12:20

** Sabra Health Care REIT Inc  SBRA.O  shares down 1.5%
premarket as co raises equity. Stock could snap 5-day win streak
if losses hold
    ** Skilled nursing facilities operator late Tues announced
6.8 mln shares for ~$98.9 mln gross raise  urn:newsml:reuters.com:*:nBw52VFCna
    ** Offering prices at $14.55, 2.7% discount to stock's last
sale
    ** SBRA plans to use net offering proceeds to fund proposed
$325 mln mortgage loan to Recovery Centers of America secured by
eight inpatient addiction treatment centers or other investments
    ** Co has ~220.8 mln shares outstanding for ~$3.3 bln market
cap, per Refinitiv data
    ** Citigroup, Barclays and Wells Fargo jt bookrunners for
offering
    ** YTD, shares down ~14% through close on Tues

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))