Senior Housing Properties raises stock offer
Senior Housing Properties Trust raises public offering to 6.5M from 4.5M shares
- On 1:24 pm EDT, Thursday September 10, 2009
NEWTON, Mass. (AP) -- Senior Housing Properties Trust said Thursday it will offer 6.5 million shares, up from the previously announced 4.5 million shares, at $19.44 each.
The sale is expected to close on Tuesday, and proceeds will be used for general corporate purposes, including funding possible acquisitions.
Underwriters have a 30-day option to buy up to an additional 975,000 shares to cover any overallotments.
Joint book-running managers for this offering are Bank of America Merrill Lynch, UBS Investment Bank and Wells Fargo Securities.
Shares of the company declined 71 cents, or 3.6 percent, to $19.07.
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