Healthcare Realty Trust revealed plans last month to offer another 5 million shares of common stock in a public offering this year.
With shares trading for about $20 on the New York Stock Exchange, the offering would raise $100 million for the Nashville, Tenn.-based real estate investment trust. A registration statement has been filed with the Securities and Exchange Commission, and a preliminary prospectus will be available in mid-January.
The offering includes an option for underwriters to buy an additional 750,000 shares. Donaldson, Lufkin & Jenrette; Smith Barney Shearson; and Equitable Securities Corp. are underwriting the deal.
The company will use the proceeds to pay bank debt and acquire additional healthcare properties. The REIT said it will acquire seven additional properties and finance the development of 10 new facilities.
The REIT now owns 26 healthcare properties in 10 states.