Health Care REIT, Toledo, Ohio, has priced an offering of 5.5 million shares of common stock at $44.01 per share.The underwriters have been granted a 30-day option to buy up to 825,000 additional shares to cover any overallotments. The estimated $230.8 million in net proceeds (or approximately $265.4 million if the overallotment option is fully exercised) will be used to invest in additional health care and senior-housing properties, the real estate investment trust said. The joint book-running managers for the offering are UBS Investment Bank and Deutsche Bank Securities. The REIT can be found online at http://www.hcreit.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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April 24