Impact Healthcare REIT, an investment firm focused on care homes, plans to raise £50m through a share placing to fund new investments.
Rupert Barclay, Impact’s chairman, said the deal would let the company “capitalise on its pipeline of attractive, near-term opportunities”, adding that it would continue to “exercise robust capital discipline and be very selective about the tenants” with whom it decides to enter into long-term partnerships with.
Impact raised £100m in May, which it has now invested. The company said it has 11 properties, with a combined value of more than £60m, under exclusivity. These include a portfolio of nine care homes valued at about £50m.
The company will issue new shares at 108p each, a discount of 1.8% to their closing share price on 5 November, the day before the fund raise was announced.
Winterflood Securities and RBC Capital Markets are running the placing.
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