Coming off its solid third quarter earnings, Welltower sold 17.5 million common shares yielding gross proceeds of $1.5 billion. The selling price was at a small discount to the market price. If the underwriters exercise their option, another 2.725 million shares could get sold. The underwriters were BofA Securities and Goldman Sachs.
Proceeds will be used to fund previously announced acquisitions as well as for general corporate purposes. We have not seen an equity offering of this size for a healthcare REIT in many years. Shazam.
