CareTrust REIT, Inc. Announces Launch of Public Offering of Common Stock
CareTrust REIT (NYSE: CTRE) has announced plans for a public offering of 11,500,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 1,725,000 more shares. The net proceeds will be contributed to CTR Partnership, L.P., and used to fund new investments, including the acquisition of 31 skilled nursing facilities through a joint venture. Wells Fargo Securities, BofA Securities, and J.P. Morgan are serving as joint lead book-running managers, with BMO Capital Markets and KeyBanc Capital Markets also acting as joint book-running managers.
CareTrust REIT (NYSE: CTRE) ha annunciato piani per un offerta pubblica di 11.500.000 azioni di azioni ordinarie, con un'opzione aggiuntiva di 30 giorni per i sottoscrittori di acquistare fino a 1.725.000 ulteriori azioni. I proventi netti saranno contribuiti a CTR Partnership, L.P., e utilizzati per finanziare nuovi investimenti, inclusa l'acquisizione di 31 strutture di assistenza sanitaria specializzata attraverso una joint venture. Wells Fargo Securities, BofA Securities e J.P. Morgan stanno fungendo da manager principali congiunti, con BMO Capital Markets e KeyBanc Capital Markets che stanno anche agendo come manager congiunti.
CareTrust REIT (NYSE: CTRE) ha anunciado planes para una oferta p煤blica de 11.500.000 acciones de acciones ordinarias, con una opci贸n adicional de 30 d铆as para que los suscriptores compren hasta 1.725.000 acciones m谩s. Los ingresos netos se destinar谩n a CTR Partnership, L.P., y se utilizar谩n para financiar nuevas inversiones, incluida la adquisici贸n de 31 instalaciones de atenci贸n m茅dica especializada a trav茅s de una empresa conjunta. Wells Fargo Securities, BofA Securities y J.P. Morgan est谩n actuando como gerentes principales conjuntos, con BMO Capital Markets y KeyBanc Capital Markets tambi茅n actuando como gerentes de libros conjuntos.
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CareTrust REIT (NYSE: CTRE) a annonc茅 des plans pour une offre publique de 11.500.000 actions d'actions ordinaires, avec une option suppl茅mentaire de 30 jours pour que les souscripteurs ach猫tent jusqu'脿 1.725.000 actions suppl茅mentaires. Les produits nets seront attribu茅s 脿 CTR Partnership, L.P., et utilis茅s pour financer de nouveaux investissements, y compris l'acquisition de 31 茅tablissements de soins qualifi茅s par le biais d'une coentreprise. Wells Fargo Securities, BofA Securities et J.P. Morgan agissent en tant que co-managers principaux, avec BMO Capital Markets et KeyBanc Capital Markets 茅galement en tant que co-managers.
CareTrust REIT (NYSE: CTRE) hat Pl盲ne f眉r ein 枚ffentliches Angebot von 11.500.000 Aktien von Stammaktien bekannt gegeben, mit einer zus盲tzlichen 30-t盲gigen Option f眉r die Underwriter, bis zu 1.725.000 weitere Aktien zu kaufen. Der Nettoerl枚s wird an CTR Partnership, L.P. geleitet und zur Finanzierung neuer Investitionen, einschlie脽lich des Erwerbs von 31 Fachpflegeeinrichtungen 眉ber ein Gemeinschaftsunternehmen verwendet. Wells Fargo Securities, BofA Securities und J.P. Morgan fungieren als gemeinsame Hauptbuchf眉hrer, w盲hrend BMO Capital Markets und KeyBanc Capital Markets ebenfalls als gemeinsame Buchf眉hrer t盲tig sind.
- Planned acquisition of 31 skilled nursing facilities expanding portfolio
- Strategic growth through joint venture arrangement
- Potential shareholder dilution from 11.5M share offering
- Additional dilution risk from 1.725M share underwriter option
Insights
The announced public offering of 11.5 million shares with an additional 1.725 million share option represents a significant capital raise that will substantially impact CareTrust REIT's capital structure. The planned acquisition of 31 skilled nursing facilities through a joint venture signals an aggressive expansion strategy that could materially boost the company's portfolio and revenue potential. With a current market cap of
The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which will in turn use the proceeds from this offering to fund new investments, including to acquire 31 skilled nursing facilities through a joint venture arrangement.
Wells Fargo Securities, BofA Securities and J.P. Morgan are acting as joint lead book-running managers for the offering. BMO Capital Markets and KeyBanc Capital Markets are also acting as joint book-running managers for the offering.
A shelf registration statement (including prospectus) relating to the Company鈥檚 common stock was previously filed with the Securities and Exchange Commission and was automatically effective upon filing.
This offering may only be made by means of a prospectus supplement and the accompanying prospectus. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from Wells Fargo Securities, LLC, Attn: WFS Customer Service, 608 2nd Avenue South, Suite 1000,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CareTrust REITTM
CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, financing, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across
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CareTrust REIT, Inc.
(949) 542-3130
ir@caretrustreit.com
Source: CareTrust REIT, Inc.
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