CareTrust REIT Completes Sale of Common Stock

CareTrust REIT, Inc. recently finalized the sale of 13,800,000 shares of common stock in an underwritten agreement. The underwriting agreement, signed with Wells Fargo Securities, LLC, BofA Securities, Inc., and J.P. Morgan Securities LLC, involved the sale of the Firm Shares at an initial price of $32 per share to the public. Additionally, the underwriters had the option to purchase up to an additional 2,070,000 shares at the same price, of which they exercised their option in full on October 31, 2024.

The Company issued the shares on November 1, 2024, as per the terms of the agreement. The offering was made in accordance with the Company’s automatic shelf registration statement on Form S-3, base prospectus dated February 24, 2023, and the final prospectus supplement filed on October 30, 2024. To address certain legal matters, the Company will be filing an opinion of DLA Piper LLP (US) regarding various aspects of Maryland law related to the offering.

The detailed terms of the Underwriting Agreement can be found in the Company’s Current Report on Form 8-K, including the full text of the agreement filed as an exhibit. Additionally, financial statements and pertinent exhibits related to the offering are included in the filing.

This strategic move by CareTrust REIT signifies a notable transaction in the realm of common stock sales. Such financial updates and transactions play a crucial role in shaping the company’s future financial stability and growth prospects. It further strengthens the company’s position and outlook within the market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CareTrust REIT’s 8K filing here.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.