American Healthcare REIT Prices $712M Stock Offering

American Healthcare REIT Prices $712M Stock Offering

American Healthcare REIT, Inc. (NYSE:AHR) announced on Monday the pricing of an underwritten public offering of 13,250,000 shares of common stock through forward sale agreements. The company expects aggregate gross proceeds of approximately $712.2 million before deducting estimated offering expenses, and the offering is expected to close on Tuesday, subject to customary closing conditions.

The forward sale agreements were entered into with Morgan Stanley, Citigroup and KeyBanc Capital Markets, or their affiliates. Under these agreements, the forward purchasers or their affiliates are expected to borrow the shares from third parties and sell them to the underwriters. The underwriters have been granted a 30‑day option to purchase up to an additional 1,987,500 shares; if exercised in full, the total offering size would increase to 15,237,500 shares.

American Healthcare REIT will not receive proceeds from the initial sale of shares by the forward purchasers. Instead, the company expects to receive proceeds upon physical settlement of the forward sale agreements, which is anticipated to occur within approximately 24 months from the prospectus supplement date. The net proceeds from settlement will be contributed to the operating partnership in exchange for OP Units.

The operating partnership plans to use the contributed proceeds for a pending acquisition of a senior‑housing properties portfolio, for potential future investments, and for general corporate purposes.

Morgan Stanley, Citigroup and KeyBanc Capital Markets are acting as joint book‑running managers for the offering. The shares are being offered pursuant to the company’s effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

American Healthcare REIT is a real estate investment trust that owns and operates clinical healthcare real estate, focusing on senior housing communities, skilled nursing facilities and outpatient medical buildings across the United States, United Kingdom and the Isle of Man.