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Healthcare Trust launches common stock self-tender offer

Healthcare Trust Inc. launched a self-tender offer for up to 2.0 million shares of its common stock at $13.15 apiece.

The offer is in response to an unsolicited cash tender offer initiated by MacKenzie Capital Management LP and certain of its affiliates to buy up to 2.0 million shares of Healthcare Trust common stock at $12.11 per share.

The healthcare-focused real estate investment trust said its self-tender offer is meant to deter MacKenzie and other potential future bidders from trying to take advantage of the illiquidity of its shares and buy them at prices considerably below their estimated per-share net asset value.

The company urged its stockholders to reject the unsolicited offer, arguing, among other things, that it represents an opportunistic attempt to buy shares at a deeply discounted price relative to their most-recent estimated value of $21.45 per share.

The expiration date of the MacKenzie offer is April 3.