Reported Earlier, CareTrust REIT Launches $32/Share Upsized Stock Offering of 13.8M Shares (Prior 11.50M) to Fund Nursing Facility Acquisitions
Portfolio Pulse from Benzinga Newsdesk
CareTrust REIT, Inc. (NYSE:CTRE) has announced an upsized public offering of 13.8 million shares at $32 per share, with the proceeds intended for nursing facility acquisitions. The offering is expected to close on November 1, 2024.
October 31, 2024 | 8:20 am
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CareTrust REIT is conducting an upsized stock offering to raise funds for acquiring 31 skilled nursing facilities. The offering involves 13.8 million shares at $32 each, with a potential additional 2.07 million shares for underwriters.
The upsized stock offering indicates strong demand and provides capital for strategic acquisitions, which could enhance CareTrust REIT's asset base and revenue potential. This is likely to be viewed positively by investors, potentially driving the stock price up in the short term.
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