Company sells 600,000 shares at $41.50 per share to RREEF America
By Marisa Wong
Madison, Wis., Dec. 18 – LTC Properties, Inc. has agreed to sell 600,000 shares of its common stock to RREEF America LLC at a purchase price of $41.50 per share, according to an 8-K filing with the Securities and Exchange Commission.
LTC Properties entered into a purchase agreement with RREEF America on Thursday.
The price per share reflects a 1% discount to the Dec. 17 closing share price of $41.92.
KeyBanc Capital Markets Inc. is the placement agent for the transaction.
Settlement is slated for Dec. 23.
LTC is a Westlake Village, Calif.-based real estate investment trust focused on the purchase of long-term-care and other health-care facilities.
| Issuer: | LTC Properties, Inc.
|
| Issue: | Common stock
|
| Amount: | $24.9 million
|
| Shares: | 600,000
|
| Price: | $41.50
|
| Warrants: | No
|
| Investor: | RREEF America LLC
|
| Agent: | KeyBanc Capital Markets Inc.
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Stock symbol: | NYSE: LTC
|
| Stock price: | $41.92 at close Dec. 17
|
| Market capitalization: | $1.45 billion
|
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