Health Care REIT completes stock sale
2/29/2012Toledo-based Health Care REIT said Monday that it has completed the sale of 20.7 million shares of common stock and that the shares sold were priced at $53.50 each, allowing the company to gross $1.1 billion from the sale. About 18 million shares were sold to the public, and 2.7 million were sold to the underwriters of the sale.
The real estate investment trust said it would use the cash from the sale to repay advances taken on its lines of credits, other outstanding debts, and for other purposes.