Early this week, Senior Housing Properties Trust (NYSE: SNH) announced that it had initially offered 4,000,000 common shares of stock but increased that number to 5,500,000 common shares of beneficial interest at a price of $17.30 per share due to investor demand. The company plans to complete the sale of the stock on February 9, 2009 and use the net proceeds for the repayment of borrowings outstanding under its revolving credit facility and for general business purposes, including funding in part pending acquisitions or possible future acquisitions of properties.The joint book-running managers for this offering are UBS Investment Bank, Citi and Morgan Stanley. The co-lead managers for this offering are Wachovia Securities and RBC Capital Markets. The co-managers for this offering are Robert W. Baird & Co., Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc. and Oppenheimer & Co.
For the complete press release, click here.