NEWTON - Real estate investment trust
Senior Housing plans to use the net proceeds of the offering to pay outstanding debt under its revolving credit line and to help fund property acquisitions, among other expenses.
The sale is expected to occur on Monday, the company said.
Underwriters are allowed a 30-day option to buy up to 825,000 additional shares.
The company said it had previously disclosed it would offer 4 million shares, but increased the size because of investor demand.
Shares fell $1.07 to $16.57.
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