Health Care REIT Announces Pricing of 26M Shares of Common Stock at $56/Share

Health Care REIT

today announced the pricing of its underwritten public offering of 26,000,000 shares of common stock at $56.00 per share. The offering was increased in size from 22,000,000 shares. The company has granted the underwriters an option to purchase up to an additional 3,900,000 shares during the next 30 days. The company estimates that the gross proceeds from this offering will be approximately $1.5 billion (or approximately $1.7 billion if the underwriters' option is exercised in full). The company intends to use the net proceeds from this offering to repay advances under its unsecured lines of credit, to repay other outstanding indebtedness and for general corporate purposes, including investing in