Sabra Health Care REIT Prices Public Offering of 16,000,000 Shares of Common Stock
September 25 2017 - 10:30PM
Sabra Health Care REIT, Inc. (“Sabra”) (NASDAQ:SBRA) today
announced the pricing of an underwritten public offering of
16,000,000 shares of its common stock at a price to the public of
$21.00 per share. Sabra has granted the underwriters a 30-day
option to purchase up to 2,400,000 additional shares of its common
stock. Sabra expects to receive net proceeds, after deducting the
underwriting discount and Sabra’s estimated offering expenses, of
approximately $321.8 million from the offering, or $370.1 million
if the underwriters exercise their option to purchase additional
shares in full. Sabra expects to issue and deliver the shares of
its common stock on or about September 28, 2017, subject to
customary closing conditions.
Sabra intends to use the net proceeds from the offering to repay
borrowings outstanding on Sabra’s revolving credit facility. Any
remaining proceeds to Sabra will be used to fund possible future
acquisitions or for general corporate purposes.
Barclays and Citigroup are acting as joint book-running managers
and representatives of the underwriters for this offering. BMO
Capital Markets, SunTrust Robinson Humphrey, Credit Agricole CIB,
MUFG, Raymond James, UBS Investment Bank, Morgan Stanley and Stifel
are also acting as joint book-running managers for this offering.
Fifth Third Securities and Mizuho Securities are acting as
co-managers.
The offering is being conducted pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission. This press release does not constitute an offer to sell
or a solicitation of any offer to buy the shares of Sabra’s 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. The
offering of these securities is being made solely by means of a
prospectus supplement and the accompanying prospectus.
Copies of the prospectus supplement and accompanying prospectus
for the offering may be obtained by written request to: Barclays,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by email, at
Barclaysprospectus@broadridge.com or by calling 1-888-603-5847; or
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or by calling 800-831-9146.
CONTACT:
Investor & Media Inquiries:
1-888-393-8248 or investorinquiries@sabrahealth.com
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