Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 11:41 PM
|This Slide: #494 of 581|
Slide #494. Sabra Health Care REIT, Inc. — Preferred Stock Offering
Sabra Health Care REIT, Inc. (NASDAQ:SBRA)
7.125% Series A Cumulative Redeemable Preferred Stock (SBRA.PRA)
Price Per Share:
Preferred Stock Offering Details:
Sabra Health Care REIT, Inc. ("Sabra" or the "Company") (Nasdaq:SBRA) today announced the closing of an underwritten public offering of 5,750,000 shares of 7.125% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a price of $25.00 per share, pursuant to an effective registration statement, for net proceeds of approximately $138.2 million after deducting underwriting discounts and other estimated offering expenses. The 5,750,000 shares of the Company's Series A Preferred Stock includes the underwriters' exercise in full on March 20, 2013 of their option to purchase up to an additional 750,000 shares of the Company's Series A Preferred Stock. The Series A Preferred Stock is expected to be admitted for trading on the NASDAQ Global Select Market under the symbol "SBRA PA" within 30 days of the date of closing.
Sabra Health Care REIT operates as a self-administered, self-managed real estate investment trust that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. Co.'s primary business consists of acquiring, financing and owning real estate property to be leased to third party tenants in the healthcare sector. Co.'s investment portfolio includes skilled nursing/transitional care facilities, senior housing communities and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements; and investments in loans receivable.
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