SABRA HEALTH CARE REIT, INC. 
By IRVINE, Calif., May 6, 2014 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. ("Sabra") (Nasdaq:SBRA) today announced the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $28.35 per share. Sabra has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of its common stock. Sabra expects to receive net proceeds, after deducting the underwriting discount and Sabra's estimated offering expenses, of approximately $189.9 million from the offering, or $218.5 million if the underwriters exercise their option to purchase additional shares in full. Sabra expects to issue and deliver the shares of its common stock on or about May 12, 2014, subject to customary closing conditions.
Sabra intends to use a portion of the net proceeds from the offering to repay borrowings outstanding on Sabra's revolving credit facility. The remaining proceeds to Sabra will be used to fund possible future acquisitions or for general corporate purposes.
Citigroup Global Markets Inc., BofA Merrill Lynch, Wells Fargo Securities, LLC, Barclays Capital Inc. and RBC Capital Markets, LLC acted as joint book-running managers for this offering. Raymond James & Associates, Inc. and Stifel acted as co-managers.
The offering is being conducted pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of any offer to buy the shares of Sabra's common stock described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus.
Copies of the prospectus supplement and accompanying prospectus can be obtained by written request to: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 800-831-9146; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by e-mail at dg.prospectus_requests@baml.com; or Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Dept., or by telephone at 800-326-5897.
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