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National Health Investors Inc Prices Offering of 4.5 Million Shares of Common Stock


Thursday, 21 Nov 2013 07:00pm EST 

National Health Investors Inc announced that it has priced its underwritten public offering of 4.5 million shares of its common stock at a price to public of $57.00 per share for net proceeds of approximately $245.3 million, after deducting the underwriting discounts and commissions and other estimated offering expenses of the offering payable by the Company. The underwriters have been granted a 30-day option to purchase up to an additional 675,000 shares. The offering is expected to close on or about November 27, 2013, subject to customary closing conditions. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price of the pending acquisition of 25 independent living facilities from Holiday Acquisition Holdings LLC for a total cash purchase price of $491 million. If the pending acquisition is not completed, the Company intends to use the net proceeds for general corporate purposes, which may include other potential future acquisitions. Wells Fargo Securities, BofA Merrill Lynch and BMO Capital Markets acted as joint book-running managers and KeyBanc Capital Markets, Stifel, JMP Securities, BB&T Capital Markets, Credit Agricole CIB, Raymond James, RBS Securities Inc. and SMBC Nikko acted as co-managers for the offering. 

Company Quote

59.77
-0.23 -0.38%
19 Sep 2014