Health Care REIT, Inc. (NYSE:HCN) today announced it has
successfully completed its public offering of 13,800,000 shares of
common stock at a price of $58.75 per share for total gross proceeds of
approximately $811 million. Total shares sold includes 1,800,000 shares
sold pursuant to the underwriters’ exercise in full of their option to
purchase additional shares.
The company intends to use the net proceeds from this offering to repay
advances under its unsecured lines of credit, to repay other outstanding
indebtedness and for general corporate purposes, including investing in
health care and seniors housing properties.
BofA Merrill Lynch, Morgan Stanley, UBS Investment Bank, Barclays, J.P.
Morgan and Wells Fargo Securities acted as joint book-running managers
for the offering.
The offering was made pursuant to Health Care REIT’s effective shelf
registration statement on file with the Securities and Exchange
Commission. A copy of the prospectus supplement and accompanying base
prospectus related to the offering may be obtained by contacting BofA
Merrill Lynch, 222 Broadway, 7th Floor, New York, NY 10038,
Attention: Prospectus Department or email: firstname.lastname@example.org;
Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, telephone: (866) 718-1649, or email: email@example.com;
or UBS Investment Bank, Attention: Prospectus Department, 299 Park
Avenue, New York, NY 10171, or by calling (888) 827-7275.
This press release is not an offer to sell, nor a solicitation of an
offer to buy securities, nor shall there be any sale of these securities
in any state or jurisdiction in which the offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Health Care REIT, Inc.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo,
Ohio, is a real estate investment trust that invests across the full
spectrum of seniors housing and health care real estate. The company
also provides an extensive array of property management and development
services. As of June 30, 2012, the company’s broadly diversified
portfolio consisted of 1,010 properties in 46 states and Canada.
This document may contain “forward-looking” statements as defined in the
Private Securities Litigation Reform Act of 1995. When the company uses
words such as “may,” “will,” “intend,” “should,” “believe,” “expect,”
“anticipate,” “project,” “estimate” or similar expressions, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties.
The company’s expected results may not be achieved, and actual results
may differ materially from expectations. This may be a result of various
factors, including, but not limited to, those factors discussed in the
prospectus supplement and related prospectus and in the company's
reports filed from time to time with the Securities and Exchange
Commission. The company assumes no obligation to update or revise any
forward-looking statements or to update the reasons why actual results
could differ from those projected in any forward-looking statements.