IRVINE, Calif.--(BUSINESS WIRE)--Oct. 12, 2021--
Sabra Health Care REIT, Inc. (“Sabra”) (Nasdaq: SBRA) announced today that it has commenced an underwritten public offering of 6.8 million shares of its common stock. Sabra intends to grant the underwriters a 30-day option to purchase up to 1.02 million additional shares of its common stock.
Sabra intends to use the net proceeds from the offering to fund a proposed $325 million mortgage loan to Recovery Centers of America secured by eight inpatient addiction treatment centers or other future investments, or to repay borrowings on its revolving credit facility used to fund such investments, and/or for general corporate purposes. Pending these uses, Sabra may temporarily use proceeds from this offering to repay borrowings outstanding on its revolving credit facility and/or invest in interest-bearing accounts and short-term, interest-bearing securities.
Citigroup, Barclays and Wells Fargo Securities are acting as joint book-running managers for the offering.
The offering is being conducted pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus forming a part of that registration statement and the prospectus supplement related to the offering and the other documents that Sabra has filed with the SEC for more complete information about Sabra and this offering. Copies of the preliminary prospectus supplement, when available, and accompanying prospectus for the offering may be obtained by written request to: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 800-831-9146; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 888-603-5847, email: Barclaysprospectus@broadridge.com; or Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, by telephone at 800-326-5897, or email a request to email@example.com. These documents may also be obtained for free on the SEC’s website located at http://www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of any offer to buy the common stock described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Sabra Health Care REIT, Inc., a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a “REIT”) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.
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Source: Sabra Health Care REIT, Inc.