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American Healthcare REIT Launches IPO Targeting Up to $840M

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American Healthcare REIT has announced its plans to launch an initial public offering on the New York Stock Exchange, seeking up to $840 million.

The real estate investment trust announced the IPO on Jan. 29. The company is seeking an initial stock price of between $12 and $15 per share, according to its announcement.

American Healthcare REIT has been approved on the New York Stock Exchange under the ticker symbol AHR.

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The company expects to grant underwriters a “30-day option to purchase up to an additional 8.4 million shares of its common stock to cover over allotments” if there are any. The company intends to use the net proceeds to repay $703.8 million under its credit facility “assuming pricing at the mid-point of the range.”

American Healthcare REIT’s $4.6 billion portfolio is made up of about 300 senior housing and care, hospital and health care buildings in 36 states and overseas in the UK. About a third of the company’s senior housing and care portfolio lies with Trilogy Health Services, one of the nation’s largest senior living and skilled nursing providers.

The announcement  Monday followed an initial filing from American Healthcare REIT in 2022.

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American Healthcare REIT formed in 2021 through the merger of Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV, and their acquisition of American Healthcare Investors.

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