Health Care REIT Inc. (HCN) announced it has completed its public offering of 29.90 million shares of common stock at a price of $56.00 per share for total gross proceeds of approximately $1.7 billion. Total shares sold includes 3.90 million shares sold pursuant to the underwriters' exercise in full of their option to purchase additional shares.
The company said it intends to use the net proceeds from this offering to repay advances under its unsecured lines of credit, to repay other outstanding indebtedness and for general corporate purposes, including investing in health care and seniors housing properties.
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