CareTrust REIT (CTRE) announced that, subject to market and other conditions, it intends to offer to sell 15.5M shares of its common stock in an underwritten public offering. The company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which will in turn use the proceeds from this offering to fund new investments and repay the borrowings outstanding on its revolving credit facility. J.P. Morgan, BofA Securities and RBC Capital Markets are acting as joint lead book-running managers for the offering.
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