In the Press
February 9, 2024

REIT Raises $672M IPO At Low End While Insurer Pulls Plans (Law360)


Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery. American Healthcare REIT sold 56 million shares at $12 each late Tuesday, marking the bottom of its stated range of $12 to $15. Underwriters for American Healthcare have the option to buy an additional 8.4 million shares at the IPO price within 30 days, potentially boosting proceeds to $772.8 million. REI partner Scott Chase, advised the underwriters. More in Law360.