LONDON (Alliance News) - Impact Healthcare REIT PLC said Friday it has raised GBP100 million in an oversubscribed placing, which will go towards repaying the company's credit facilities as well as pursue near-term pipeline opportunities.
The healthcare property-focused investor issued 94.3 million shares at a price of 106.0 pence per share. Originally, the placing was intended to raise just GBP25 million.
Shares in Impact Healthcare REIT were down 1.8% at 107.00 pence on Friday.
Winterflood Securities Ltd and RBC Capital Markets worked with Impact Healthcare as bookrunners on the placing.
"This successful capital raise of GBP100 million will enable the company to build on its successes to date by executing on its pipeline of attractive near term investment opportunities, each of which is expected to generate further value for shareholders. These investments are expected to enhance the diversification of the portfolio and tenant mix and enable the company to invest in the next phase of organic growth within the group's existing portfolio," said Chair Rupert Barclay.
Following the placing, Impact Healthcare now has 286.5 million shares issued overall.
Impact Health (IHR)