NHI Launches Public Offering Of 4.5 Mln Shares

(RTTNews) - National Health Investors, Inc. (NHI) said Tuesday that it has commenced an underwritten public offering of 4.5 million shares of its common stock.

The underwriters are expected to be granted a 30-day option to purchase up to an additional 675,000 shares.

The company said it plans 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 certain affiliates of Holiday Acquisition Holdings LLC for a total cash purchase price of $491 million. If the pending acquisition is not completed, the company plans to use the net proceeds for general corporate purposes, which may include other potential future acquisitions.