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CareTrust wraps up common stock offering

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CareTrust wraps up common stock offering

CareTrust REITInc. said March 29 that it completed an upsized of 8.5 million shares ofits common stock priced at $11.35 apiece.

The underwriters exercised in full their option to acquireup to an additional 1,275,000 shares of common stock at the public offeringprice, less the underwriting discount.

CareTrust plans to inject the net proceeds into itsoperating partnership, CTR Partnership LP, which in turn will use them tofinance pending acquisitions. Pending such use, the net proceeds may go towardrepayment of borrowings outstanding on CareTrust's revolving credit facility.

KeyBanc Capital Markets, Wells Fargo Securities, BMO CapitalMarkets, Raymond James and Barclays acted as the offering's joint book-runningmanagers. RBC Capital Markets, Canaccord Genuity, Capital One Securities andFifth Third Securities served as co-managers for the offering.