Community HealthcareTrust Inc. plans to launch an offeringof 4.5 million shares of common stock, subject to market and other conditions.
The company intends to grant the underwriters a 30-day optionto purchase an additional 675,000 shares. Including a full exercise of this option,the offering represents gross proceeds of $96.2 million, based on the $18.59-per-shareMarch 30 closing price of Community Healthcare's stock.
The company intends to contribute the net proceeds to its operatingpartnership, Community Healthcare OP LP, which intends to use them to fund pendingacquisitions and repay outstanding amounts on the company's revolving credit facility.
Sandler O'Neill & Partners LP, Evercore ISI and SunTrustRobinson Humphrey are acting as joint book-running managers for the offering.