Welltower announces sale of 17.5M shares of common stock

Welltower announced the sale of 17.5M shares of its common stock to BofA Securities and Goldman Sachs in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the SEC. Welltower intends to use the net proceeds from the offering for the acquisition of properties within the seniors housing and skilled nursing sectors, including those currently under contract and for general corporate purposes. On October 30, 2023, the company disclosed approximately $1.0B of fully funded investments under contract and has entered into agreements to purchase an incremental $2.0B of properties as of November 6, 2023. In total, the $3.0B of granular acquisition activity is comprised of approximately $2.4B and $600M of investments in the seniors housing and skilled nursing sectors, respectively. Pending such use, the net proceeds may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States. BofA Securities and Goldman Sachs are acting as the underwriters of the offering.