LTC Properties Inc., Malibu, Calif., has announced the pricing of a public offering of 2 million shares of 8.5% series E cumulative preferred stock, with a liquidation preference of $25 per share.The company said each share will be convertible at any time into shares of common stock at a conversion price of $12.50 per share of common stock, subject to adjustment under certain circumstances. The transaction was managed by Stifel, Nicolaus & Co.; McDonald Investments Inc.; and Harris Nesbitt. LTC is a real estate investment trust that invests in long-term care and other health care facilities.
Processing Content
