Ventas Enters Agreement to Sell 5.2M Shares of Common Stock
Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) announced today that it has agreed to sell 5,200,000 shares of its common stock to Citigroup, as sole underwriter, in an underwritten public offering. The Company has also granted Citigroup a 30-day option to purchase up to an additional 780,000 shares of common stock to cover overallotments, if any. The last reported sales price of the Company's common stock on the New York Stock Exchange on May 31, 2012 was $58.82. The Company intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions or investments, if any. Completion of the offering is subject to customary closing conditions.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.