Ventas, Inc. announced the pricing of an underwritten public offering of 10,600,000 shares of its common stock. The offering is expected to generate gross proceeds of approximately $677 million before underwriting discounts and estimated offering expenses. This transaction is being conducted in connection with a forward sale agreement with Wells Fargo Bank, National Association.
The underwriter for the offering has been granted a 30-day option to purchase up to an additional 1,590,000 shares of Ventas’s common stock. If this option is exercised, Ventas plans to enter into an additional forward sale agreement for those shares. The offering is anticipated to close on November 15, 2024, subject to customary closing conditions.
Ventas intends to use the net proceeds received upon physical settlement of the forward sale agreement for working capital and other general corporate purposes. These purposes may include funding acquisitions and investments or the repayment of existing indebtedness, providing the company with enhanced financial flexibility.
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