Ventas Enters Into Agreement To Sell Common Stock
Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) announced today that it has agreed to sell 5,200,000 shares of its common stock to Citigroup, as sole underwriter, in an underwritten public offering. The Company has also granted Citigroup a 30-day option to purchase up to an additional 780,000 shares of common stock to cover overallotments, if any. The last reported sales price of the Company’s common stock on the New York Stock Exchange on May 31, 2012 was $58.82. The Company intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions or investments, if any. Completion of the offering is subject to customary closing conditions.
The shares of common stock are being offered under the Company’s existing shelf registration statement. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and the accompanying prospectus may be obtained from: Citigroup, Brooklyn Army Terminal, 140 58 th Street, 8 th Floor, Brooklyn, NY 11220 (Tel: 800-831-9146).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Ventas, Inc., an S&P 500 company, is a leading healthcare real estate investment trust. Its diverse portfolio of more than 1,400 assets in 47 states (including the District of Columbia) and two Canadian provinces consists of seniors housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties. Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States.
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