BUSINESS BRIEF
Health Care REIT raises $1B from public offering
6/5/2014Toledo’s Health Care REIT Inc. said it has successfully completed its public offering of 16.1 million shares of common stock which sold for $62.35 per share and raised approximately $1 billion for the company’s use.
The offering ended up being the largest overnight-marketed SEC stock offering completed by any company so far in 2014, based on total proceeds.
The real estate investment trust stated that it intends to use cash to repay advances from its line of credit and also for general purposes, including investing in additional health care or seniors housing properties.