Health Care REIT, Inc. : Announces Pricing of 26,000,000 Shares of Common Stock at $56.00 Per Share
09/18/2012| 05:45pm US/Eastern
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Health Care REIT, Inc. (NYSE:HCN) today announced the pricing of
its underwritten public offering of 26,000,000 shares of common stock at
$56.00 per share. The offering was increased in size from 22,000,000
shares. The company has granted the underwriters an option to purchase
up to an additional 3,900,000 shares during the next 30 days. The
company estimates that the gross proceeds from this offering will be
approximately $1.5 billion (or approximately $1.7 billion if the
underwriters' option is exercised in full).
The company intends to use the net proceeds from this offering to repay
advances under its unsecured lines of credit, to repay other outstanding
indebtedness and for general corporate purposes, including investing in
health care and seniors housing properties.
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Deutsche Bank
Securities, Wells Fargo Securities and KeyBanc Capital Markets acted as
joint book-running managers for the offering.
The shares of common stock are being offered pursuant to an effective
shelf registration statement that Health Care REIT previously filed with
the U.S. Securities and Exchange Commission. A copy of the prospectus
supplement and accompanying base prospectus related to the offering may
be obtained by contacting BofA Merrill Lynch, 222 Broadway, 7th
Floor, New York, NY 10038, Attention: Prospectus Department or email: dg.prospectus_requests@baml.com;
or J.P. Morgan Securities LLC, Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204; or
Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, telephone: (866) 718-1649, or email: prospectus@morganstanley.com.
This press release is not an offer to sell, nor a solicitation of an
offer to buy securities, nor shall there be any sale of these securities
in any state or jurisdiction in which the offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Health Care REIT, Inc.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo,
Ohio, is a real estate investment trust that invests across the full
spectrum of seniors housing and health care real estate. The company
also provides an extensive array of property management and development
services. As of June 30, 2012, the company's broadly diversified
portfolio consisted of 1,010 properties in 46 states and Canada.
Forward-Looking Statements
This document may contain "forward-looking" statements as defined in the
Private Securities Litigation Reform Act of 1995. When the company uses
words such as "may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties.
The company's expected results may not be achieved, and actual results
may differ materially from expectations. This may be a result of various
factors, including, but not limited to, those factors discussed in the
prospectus supplement and related prospectus and in the company's
reports filed from time to time with the Securities and Exchange
Commission. Completion of the offering is subject to various factors,
including, but not limited to, customary closing conditions. The company
assumes no obligation to update or revise any forward-looking statements
or to update the reasons why actual results could differ from those
projected in any forward-looking statements.
Health Care REIT, Inc.
Scott Estes, 419-247-2800
Jay Morgan,
419-247-2800
© Business Wire 2012
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