IRVINE, Calif., Sept. 25, 2017 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. (“Sabra”) (NASDAQ:SBRA) announced today that it plans to offer 16,000,000 shares of its common stock in an underwritten public offering. In connection with the offering, Sabra expects to grant the underwriters a 30-day option to purchase up to 2,400,000 additional shares of its common stock.
Sabra intends to use the net proceeds from the offering to repay borrowings outstanding on Sabra’s revolving credit facility. Any remaining proceeds to Sabra will be used to fund possible future acquisitions or for general corporate purposes.
Barclays and Citigroup are acting as joint book-running managers and representatives of the underwriters for this offering. BMO Capital Markets, SunTrust Robinson Humphrey, Credit Agricole CIB, MUFG, Raymond James, UBS Investment Bank, Morgan Stanley and Stifel are also acting as joint book-running managers for this offering.
The offering is being conducted pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of any offer to buy the shares of Sabra’s common stock described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus.
Copies of the prospectus supplement and accompanying prospectus for the offering may be obtained by written request to: Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by e-mail, at Barclaysprospectus@broadridge.com or by calling 1-888-603-5847; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling 800-831-9146.
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Source:Sabra Health Care REIT, Inc.