American Healthcare REIT down after beginning stock offering
AHR•Recent trading and share count
The Irvine, California-based firm has about 218 million shares outstanding.
AHR closed down 2.2% at $55.47 on Monday, trimming its year-to-date gain to 18%.
Shares fall after planned equity raise
Shares of American Healthcare REIT (AHR.N) were down 1.9% at $54.43 in post-market trading after news of a planned equity raise.
The senior housing and skilled nursing facilities operator commenced a 13.25 million-share offering on a forward sale basis.
Forward sale agreements and use of proceeds
The company expects to enter into 24-month forward sale agreements with bookrunners Morgan Stanley, Citigroup and KeyBanc.
Upon settlement of the agreements, it expects to use net proceeds for a pending acquisition, potential future investments and general purposes.
