WASHINGTON (dpa-AFX) - Ventas Inc. (VTR) Thursday agreed to sell 5.20 million shares to Citigroup in an underwritten public offering. The company also granted Citigroup a 30-day option to purchase up to an additional 780 thousand shares to cover overallotments. The last reported sales price of the company's stock on the NYSE on May 31 was $58.82.
The company intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facility and for working capital and other general corporate purposes, including to fund future acquisitions or investments.
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