Health Care REIT prices underwritten public offering of common stock

Health Care REIT, Inc. (NYSE:HCN) today announced the pricing of its underwritten public offering of 11,000,000 shares of common stock at $50.00 per share. The offering was increased in size from 10,000,000 shares in response to investor demand. The company has granted the underwriters an option to purchase up to an additional 1,650,000 shares during the next 30 days to cover over-allotments, if any. The company estimates that the gross proceeds from this offering will be approximately $550.0 million (or approximately $632.5 million if the underwriters' over-allotment option is exercised in full).

The company intends to use the net proceeds from this offering for general corporate purposes, including investing in health care and seniors housing properties and repaying borrowings under the company's unsecured line of credit and other outstanding indebtedness.