Windrose Medical Properties negotiating direct placement of stock

By Sheri Kasprzak

New York, Nov. 10 - Windrose Medical Properties Trust said on Thursday that it is in negotiations to conduct a direct placement of stock.

The direct offering includes up to 3.5 million shares.

The shares will be issued under the company's shelf registration.

The price per share, however, had not yet been set by press time Thursday evening.

Cohen & Steers Capital Advisors, LLC and Robert W. Baird & Co. Inc. are the placement agents for the deal.

On Nov. 9, the company's stock ended at $15.05, and on Thursday, Windrose's stock slipped $0.05 to end at $15.00.

Proceeds from the deal will be used for the acquisition of 22 properties. If those acquisitions are not completed, the company will use some of the proceeds to repay up to $50 million in mortgage debt secured by three of its current properties. The rest will be used for general corporate purposes.

Based in Indianapolis, Windrose is a real estate investment trust focused on acquiring health care facilities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.