NEW YORK, Oct. 1, 2021 /PRNewswire/ -- Healthcare
Trust, Inc. ("HTI" or the "Company") today announced the pricing of
an underwritten public offering of 3,200,000 shares of its 7.125%
Series B Cumulative Redeemable Perpetual Preferred Stock (the
"Series B Preferred Stock") at a public offering price of
$25.00 per share. In addition, the
Company has granted the underwriters a 30-day option to purchase up
to an additional 480,000 shares of Series B Preferred Stock. The
Company has applied to list the shares of Series B Preferred Stock
on The Nasdaq Global Market under the symbol "HTIBP." The Series B
Preferred Stock will have a $25.00
liquidation preference per share. The Series B Preferred Stock has
received a rating of BBB- from Egan-Jones Ratings Company.
The Company expects to receive net proceeds from
the offering, after deducting the underwriting discount but
not other estimated offering expenses payable by the
Company (including a structuring fee),
of approximately $77.5 million (assuming the
underwriters' option to purchase additional shares is not
exercised) and expects to close the transaction on or about
October 6, 2021. The Company will use
the net proceeds from this offering to repay amounts outstanding
under its revolving credit facility as required thereunder. Subject
to the terms and conditions set forth in the revolving credit
facility, the Company may then draw on the revolving credit
facility to borrow any amounts so repaid for general corporate
purposes, including purchases of additional properties.
The bookrunners for the offering are B. Riley Securities,
Janney Montgomery Scott, Ladenburg
Thalmann and William Blair. The lead
manager for the offering is Colliers Securities LLC. The
co-managers for the offering are Aegis Capital Corp., Boenning
& Scattergood, EF Hutton, division of Benchmark Investments,
LLC and Wedbush Securities.
The Series B Preferred Stock was offered pursuant to a
preliminary prospectus forming part of the registration
statement which was declared effective by the Securities and
Exchange Commission (the "Commission") on October 1, 2021.
About Healthcare Trust, Inc.
Healthcare Trust, Inc. is a publicly registered real estate
investment trust focused on acquiring a diversified portfolio of
healthcare real estate, with an emphasis on seniors housing and
medical office buildings, located in the
United States. Additional information about HTI can be found
on its website at www.healthcaretrustinc.com.
Important Notice
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction. The offering of securities is made
only by means of a prospectus. Copies of the final
prospectus relating to these securities, when
available, may be obtained from B. Riley Securities, Inc.
You should direct any requests to B. Riley Securities, Inc.,
Attention: Prospectus Department, 1300 17th Street North, Suite
1300, Arlington, Virginia 22209,
by telephone at (703) 312-9580 or by email at
prospectuses@brileyfin.com. You may also obtain a copy of the
final prospectus, when available, and other documents the
Company has filed with the Commission for free by visiting the
Commission's website at http://www.sec.gov.
A securities rating is not a recommendation to buy, sell or hold
securities and may be subject to revision or withdrawal at any
time. Each rating agency has its own methodology for assigning
ratings and, accordingly, each rating should be evaluated
independently of any other rating.
The statements in this press release that are not historical
facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the
outcome to be materially different. In addition, words such as
"may," "will," "seeks," "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "should" or similar expressions
indicate a forward-looking statement, although not all
forward-looking statements include these words. Actual results may
differ materially from those contemplated by such forward-looking
statements, including those set forth in the Risk Factors section
of HTI's registration statement on Form S-11 and other
reports filed with the Commission. Further, forward-looking
statements speak only as of the date they are made, and
HTI undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time, unless required by law.
Contact
Investors and Media:
Email:
investorrelations@ar-global.com
Phone: (866) 902-0063
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SOURCE Healthcare Trust, Inc.