Welltower Prices Public Offering Of 17.50 Mln Shares For Gross Proceeds Of About $1.5 Bln

(RTTNews) - Welltower Inc. (WELL) said that it priced the public offering for the 17.50 million shares of its common stock previously sold to BofA Securities, Inc. and Goldman Sachs & Co. LLC for aggregate gross proceeds to Welltower of approximately $1.5 billion.

Welltower has also granted the underwriters an option to purchase up to 2.63 million additional shares of common stock.

Welltower plans to use the net proceeds from the Offering for the acquisition of properties within the seniors housing and skilled nursing sectors, including those currently under contract and for general corporate purposes.

On October 30, 2023, the company disclosed approximately $1.0 billion of fully funded investments under contract and has entered into agreements to purchase an incremental $2.0 billion of properties as of November 6, 2023.

In total, the $3.0 billion of granular acquisition activity is comprised of approximately $2.4 billion and $600 million of investments in the seniors housing and skilled nursing sectors, respectively.