National Health Investors to redeem 8.5% convertible preferreds

New York, March 29 - National Health Investors Inc. said it will redeem all its outstanding 8.5% cumulative convertible preferred stock on April 30.

National Health said it will redeem the securities at the rate of 0.905 shares of common stock for each share of convertible preferred stock.

The Murfreesboro, Tenn., long-term care real estate investment trust currently has 747,994 shares of the preferreds outstanding with a principal amount of $18.7 million.

National Health's stock closed at $29.89 Friday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.