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Omega Healthcare Investors to sell 7.5 million common shares on forward basis

Omega Healthcare Investors Inc. will offer 7.5 million common shares under a planned forward sale agreement with BofA Merrill Lynch or its affiliate.

The forward purchaser expects to grant a 30-day option to the underwriters to acquire up to 1,125,000 additional shares.

Based on the healthcare real estate investment trust's closing stock price of $41.36 per share on Sept. 9, gross offering proceeds, including the additional share option, are expected to total approximately $356.7 million.

Omega Healthcare aims to use any net proceeds to fund a pending acquisition, with any remaining funds going toward general corporate purposes.

BofA Merrill Lynch is the book runner for the public offering.