By Sheri Kasprzak
New York, Nov. 23 - Windrose Medical Properties Trust said it has priced its previously announced direct placement for $42.3 million.
The company plans to sell 3 million shares at $14.10 each to institutional investors.
The shares will be sold under the company's shelf registration.
Cohen & Steers Capital Advisors, LLC and Robert W. Baird & Co. Inc. are the placement agents for the deal.
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.
| Issuer: | Windrose Medical Properties Trust
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| Issue: | Stock
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| Amount: | $42.3 million
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| Shares: | 3 million
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| Price: | $14.10
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| Warrants: | No
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| Placement agents: | Cohen & Steers Capital Advisors, LLC, Robert W. Baird & Co. Inc.
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| Pricing date: | Nov. 22
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| Stock price: | $14.52 at close Nov. 22
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