Medindia

X

Ventas Enters Agreement to Sell Common Stock

Tuesday, August 12, 2008 General News J E 4
Advertisement
CHICAGO, Aug. 11 Ventas, Inc. (NYSE: VTR)("Ventas" or the "Company") announced today that it has agreed to sell4,400,000 shares of its common stock to Merrill Lynch & Co., as soleunderwriter, in an underwritten public offering. The Company has also grantedMerrill Lynch & Co. a 30-day option to purchase up to an additional 660,000shares of common stock to cover overallotments, if any. The Company will usethe net proceeds to repay indebtedness outstanding under its revolving creditfacility and for other general corporate purposes, including acquisitions.Completion of the offering is subject to customary closing conditions.

The shares of common stock are being offered under the Company's existingshelf registration statement, which became automatically effective upon filingwith the Securities and Exchange Commission. A prospectus supplement andaccompanying prospectus describing the terms of the offering will be filedwith the Securities and Exchange Commission. When available, copies of theprospectus supplement and the accompanying prospectus may be obtained fromMerrill Lynch & Co., 4 World Financial Center, 250 Vesey St., New York, NewYork 10080, or by phone at 212-449-1000.

This press release shall not constitute an offer to sell or thesolicitation of an offer to buy nor shall there be any sales of thesesecurities in any jurisdiction in which such offer, solicitation or sale wouldbe unlawful prior to registration or qualification under the securities lawsof such jurisdiction.

Ventas, Inc. is a leading healthcare real estate investment trust. Itsdiverse portfolio of properties located in 43 states and two Canadianprovinces includes seniors housing communities, skilled nursing facilities,hospitals and medical office and other properties.

This press release includes forward-looking statements within the meaningof Section 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended. All statements regardingVentas, Inc.'s ("Ventas" or the "Company") and its subsidiaries' expectedfuture financial position, results of operations, cash flows, funds fromoperations, dividends and dividend plans, financing plans, business strategy,budgets, projected costs, capital expenditures, competitive positions,acquisitions, investment opportunities, merger integration, growthopportunities, expected lease income, continued qualification as a real estateinvestment trust ("REIT"), plans and objectives of management for futureoperations and statements that include words such as "anticipate," "if,""believe," "plan," "estimate," "expect," "intend," "may," "could," "should,""will" and other similar expressions are forward-looking statements. Suchforward-looking statements are inherently uncertain, and security holders mustrecognize that actual results may differ from the Company's expectations. TheCompany does not undertake a duty to update such forward-looking statements,which speak only as of the date on which they are made.

The Company's actual future results and trends may differ materiallydepending on a variety of factors discussed in the Company's filings with theSecurities and Exchange Commission. Factors that may affect the Company'splans or results include without limitation: (a) the ability and willingnessof the Company's operators, tenants, borrowers, managers and other thirdparties, as applicable, to meet and/or perform the obligations under theirvarious contractual arrangements with the Company; (b) the ability andwillingness of Kindred Healthcare, Inc. (together with its subsidiaries,"Kindred"), Brookdale Living Communities, Inc. (together with itssubsidiaries, "Brookdale") and Alterra Healthcare Corporation (together withits subsidiaries, "Alterra") to meet and/or perform their obligations toindemnify, defend and hold the Company harmless from and against variousclaims, litigation and li
Advertisement


Advertisement

You May Also Like

Advertisement
View All

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions
s
BioSpecifics Technologies Corp. Reports Second Qua...
S
Emageon Files Quarterly Report