Senior Housing Properties Trust Prices $293.6 Mln Stock Offering

(RTTNews) - Senior Housing Properties Trust (SNH) said Thursday that it priced a public offering of 13.5 million common shares at a price to the public of $21.75 per share.

The settlement of this offering is expected to occur on April 23.

The underwriters have been granted a 30-day option to purchase up to an additional 2.025 million common shares.

SNH expects to use the proceeds of the offering to repay amounts outstanding on its revolving credit facility and for general business purposes, including funding, in part, the pending acquisition of two biotech medical office buildings in Boston.