Newton’s Senior Housing Properties Trust (SNH) has priced a public offering of 12.5 million common shares of beneficial interest at a price of $20.50 per share.
The settlement of this offering is expected to occur on Wednesday, Dec. 15. SNH expects to use the proceeds of this offering to repay amounts outstanding under its revolving credit facility and for general business purposes, including funding acquisitions. The underwriters have been granted a 30-day option to purchase up to an additional 1.88 million shares to cover over-allotments, if any.
The joint book-running managers for this offering are Jefferies & Co. Inc., BofA Merrill Lynch and Morgan Stanley. The co-lead managers for this offering are Citi, Morgan Keegan, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities. The co-managers for this offering are BB&T Capital Markets, Janney Montgomery Scott and Oppenheimer & Co.





