Published On: Wed, Sep 21st, 2016

MedEquities Realty Trust Plans $259 Million IPO for September 29th (MRT)

MedEquities Realty Trust (MRT) expects to raise $259 million in an IPO on Thursday, September 29th. The company will be issuing 19,900,000 shares at $12.00-$14.00 per share.
In the last twelve months, MedEquities Realty Trust generated $50 million in revenue and $700,000 in net income. The company has a market-cap of $393.3 million.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/medequities-realty-trust-plans-259-million-ipo-for-september-29th-mrt.html

FBR, J.P. Morgan, Citigroup, KeyBanc Capital Markets, Raymond James and RBC Capital Markets served as the underwriters for the IPO and JMP Securities, Fifth Third Securities and Capital One Securities were co-managers.
MedEquities Realty Trust provided the following description of their company for its IPO: “As of the date of this prospectus, our portfolio is comprised of 21 healthcare facilities, including two long-term acute care hospitals, two acute care hospitals, 15 skilled nursing facilities, one medical office building and one assisted living facility, which we acquired for an aggregate gross purchase price of $452.9 million, and two healthcare-related debt instruments in the aggregate principal amount of $28.0 million. In addition, we have two transactions under contract, consisting of Graham Oaks and Vibra Rehabilitation Hospital of Amarillo, and an option to purchase Kearny Mesa for an initial aggregate purchase price of $46.0 million. Upon the acquisition of our properties under contract, our portfolio will be comprised of 24 healthcare facilities with an initial aggregate gross purchase price of $498.9 million and a total of 2,308 licensed beds located in Texas, California, Nevada and South Carolina, including 17 skilled nursing facilities, two acute care hospitals, two long-term acute care hospitals, one assisted living facility, one inpatient rehabilitation facility and one medical office building. “.
MedEquities Realty Trust was founded in 2014 and has 11 employees. The company is located at 3100 West End Avenue, Suite 1000, Nashville, TN 32703, US and can be reached via phone at (615) 627-4710 or on the web at http://www.medequities.com.

Receive News & Ratings for MedEquities Realty Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MedEquities Realty Trust and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>