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HCP Prices Stock Offer At $21.25 Per Share

Stock quotes in this article: HCP  

LONG BEACH, Calif. (AP) — Real estate investment trust HCP Inc. said Tuesday it priced an offering of 18 million shares of common stock at $21.25 per share.

The offer price represents an 8 percent discount from Monday's closing price of $23.08.

HCP, which invests primarily in real estate serving the healthcare industry, said it will use the roughly $382.5 million in proceeds to repay the remaining debt outstanding on a bridge loan. Additional money from the offer will be used for general corporate purposes. ...

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