National Health Closes Public Offering For Net Proceeds Of About $271 Mln

(RTTNews) - National Health Investors Inc (NHI) Friday announced the completion of its public offering of about 4.4 million shares of its common stock, including 577,500 shares issued pursuant to the exercise in full of the underwriters' option to purchase additional shares, at a price to the public of $63.80 per share.

The net proceeds from the offering were about $270.5 million, after deducting the underwriting discounts and commissions and other estimated offering expenses payable by the company.

The company intends to use the proceeds to fund a portion of the $476 million purchase price of its pending acquisition of the Senior Living Communities Portfolio, which consists of eight communities. If the pending acquisition is not completed, the company intends to use the net proceeds for general corporate purposes, which may include future acquisitions or the repayment of debt.