American Healthcare REIT (AHR) said late Wednesday it has commenced an underwritten public offering of 14 million common shares tied to a forward sale agreement with BofA Securities.
The underwriter expects to be granted a 30-day option, exercisable in whole or partially from time to time, to buy up to an additional 2.1 million common shares, the company said.
If the option to buy additional shares is exercised, the company expects to enter into another forward sale agreement with the forward purchaser.
American Healthcare REIT said it expects to contribute any net proceeds from the settlement of the forward sale agreement to its operating partnership in exchange for OP units, with the operating partnership expected to use the proceeds for general corporate purposes.
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