Health Care REIT Prices Public Offering - Quick Facts

(RTTNews) - Health Care REIT Inc. (HCN) announced the pricing of its public offering of 14 million shares of common stock at $62.35 per share. The offering was increased in size from 12 million shares. The company estimates that the gross proceeds will be approximately $873 million. The company has granted the underwriters an option to purchase up to an additional 2.1 million shares during the next 30 days.

Health Care REIT intends to use the net proceeds to repay advances under its primary unsecured credit facility and for general corporate purposes, including investing in health care and seniors housing properties.