Impact Healthcare REIT PLC - real estate investment trust focused on healthcare properties - Plans equity fundraise via placing of shares and offer for subscription, both at 117.00 pence per share. Doesn't provide a target for the share placing, but says the subscription will be for up to the sterling equivalent of EUR8 million. The issue price represents a 4.6% discount to the closing price of 122.6 pence on Tuesday, and a 1.8% premium to net asset value per share of 114.93p at March 31.
The fundraise will put towards Impact Healthcare's GBP169 million pipeline of acquisitions, with six portfolios consisting of 27 separate care homes. Impact has existing resources including GBP70 million in available debt headroom and will use new debt and the new equity for the completion of these opportunities.
"Whilst equity capital market conditions remain challenging, this fundraise will allow us to secure a number of attractive investment opportunities and grow our inflation-linked long leased REIT for the benefit of all stakeholders," says Chair Rupert Barclay.
Current stock price: 118.60 pence, down 3.3% on Wednesday
12-month change: up 7.4%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Impact Health (IHR)