The healthcare real estate firm will use proceeds to fund acquisitions and repay debt after launching the offering.
CareTrust REIT (CTRE) announced a public offering of 10 million common shares, including a 30-day option for underwriters to purchase up to 1.5 million additional shares. The deal is structured as a forward sale agreement, allowing delayed settlement of shares.
The company plans to use proceeds for acquisitions, development projects, and debt repayment. CareTrust last raised capital in Q1 2023 through a smaller equity offering, reflecting ongoing expansion in the senior housing sector.
Shares of CTRE traded flat in after-hours following the announcement, as investors await pricing details.