Published on September 25, 2012 at 12:33 AM
Health Care REIT, Inc. (NYSE:HCN) today announced it has
successfully completed its public offering of 29,900,000 shares of
common stock at a price of $56.00 per share for total gross proceeds of
approximately $1.7 billion. Total shares sold includes 3,900,000 shares
sold pursuant to the underwriters' exercise in full of their option to
purchase additional shares.
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
health care and seniors housing properties.
Source: Health Care REIT, Inc.