SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Dividend investing for retirement
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: chowder who wrote (7864)3/2/2011 7:07:40 AM
From: Bocor  Read Replies (1) of 34328
 
TOLEDO, Ohio--(BUSINESS WIRE)-- Health Care REIT, Inc. (NYSE:HCN - News) today announced the pricing of its concurrent underwritten public offerings of 25.0 million shares of its common stock at $49.25 per share and $625 million (12.5 million shares) of 6.5% cumulative convertible perpetual preferred stock. The shares of preferred stock have a liquidation value of $50.00 per share. The company has granted the underwriters an option to purchase up to an additional 3.75 million shares of common stock and 1.875 million shares of preferred stock during the next 30 days to cover over-allotments, if any. The company estimates that the gross proceeds from the concurrent offerings will be approximately $1.9 billion (or approximately $2.1 billion if each of the underwriters’ over-allotment options are exercised in full).

The company intends to use the net proceeds from these offerings to finance a portion of the purchase price of its previously announced acquisition of substantially all of the real estate assets of privately-owned Genesis HealthCare Corporation for a purchase price of $2.4 billion. If that acquisition is not consummated, the company intends to use the net proceeds from these offerings for general corporate purposes, including investing in health care and senior housing properties and repaying borrowings under the company's unsecured line of credit and other outstanding indebtedness.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News