Newton real estate investment trust Five Star Quality Care Inc. (FVE) has priced a public offering of 10 million common shares at $5 per share.
The settlement of the offering is expected to occur on Tuesday, June 21. FVE expects to use the proceeds of the offering for general business purposes, including repaying its outstanding bridge loan and for funding in part the cash purchase price of pending acquisitions and other possible future acquisitions. The underwriters have been granted a 30-day option to purchase up to an additional 1.5 million common shares to cover over-allotments, if any.
The joint bookrunning managers for this offering are Jefferies & Co. Inc., Citi and UBS Investment Bank. The joint lead managers for this offering are Morgan Keegan, RBC Capital Markets and Stifel Nicolaus Weisel. The joint managers for this offering are Davenport & Co. LLC and JMP Securities.





