IRVINE, Calif., July 19, 2011 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. ("Sabra") (Nasdaq:SBRA) announced today that it plans to offer 9,500,000 shares of its common stock in an underwritten public offering through a registration statement on Form S-11 filed with the U.S. Securities and Exchange Commission (the "SEC"). In connection with the offering, Sabra expects to grant the underwriters a 30-day option to purchase up to 1,425,000 additional shares of its common stock to cover any over-allotments, if applicable.
Sabra intends to use a portion of the proceeds to it from this offering to fund the aggregate purchase price for four skilled nursing facilities—Broadmeadow Healthcare, Capitol Healthcare, Pike Creek Healthcare and Renaissance Healthcare (the "SNF Portfolio"). The remaining proceeds to Sabra, or if the acquisition of the SNF Portfolio is not consummated, all of the proceeds to Sabra from this offering, will be used to fund possible future acquisitions or for general corporate purposes.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of any offer to buy the shares of Sabra's common stock described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
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Source: Sabra Health Care REIT, Inc.