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Mainstreet Health Investments' shareholders approve US$425M acquisition

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Mainstreet Health Investments' shareholders approve US$425M acquisition

Mainstreet Health Investments received approval from its shareholders for the issuance of shares in connection with the recently announced US$425.0 million acquisition of Care Investment Trust LLC from Tiptree Inc.'s operating company.

The company will acquire Care Investment Trust's owned portfolio of 42 senior housing and care properties across the U.S., and will issue about 16.8 million shares at a fixed issuance price of US$9.75 per share to Tiptree.