CareTrust REIT announces 11.5M share common stock offering
The Fly

CareTrust REIT announces 11.5M share common stock offering

CareTrust REIT (CTRE) announced that, subject to market and other conditions, it intends to offer to sell 11.5M shares of its common stock in an underwritten public offering. The company intends to contribute the net proceeds to CTR Partnership, its operating partnership, which will in turn use the proceeds from this offering to fund new investments, including to acquire 31 skilled nursing facilities through a joint venture arrangement. Wells Fargo Securities, BofA Securities and J.P. Morgan are acting as joint lead book-running managers for the offering. BMO Capital Markets and KeyBanc Capital Markets are also acting as joint book-running managers for the offering.

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