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Strawberry Fields REIT, Inc. (NYSE American:STRW) (the "Company") today announced that it has commenced an underwritten public offering of its common stock. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares offered in the offering. If exercised, all additional shares will be offered at the public offering price per share of common stock in the offering.
The Company intends to contribute the net proceeds to Strawberry Fields Realty, LP, its operating partnership, which will in turn use the proceeds from this offering to finance acquisitions of new investments, pay down existing debt, and for general corporate purposes.
Janney Montgomery Scott is acting as lead book-running manager. Lake Street Capital Markets, Wedbush Securities, and Compass Point Research & Trading are acting as joint book-running managers. Colliers Securities is acting as co-manager.
Copies of the preliminary prospectus supplement and accompanying prospectus related to these securities may be obtained from: Janney Montgomery Scott, Attention: Syndicate Department, 1717 Arch Street, Philadelphia, PA 19109, by telephone at (617) 557-2975 or by email at prospectus@janney.com.
The offering is being made pursuant to a shelf registration statement (including prospectus) on Form S-3, which was filed with the Securities and Exchange Commission and declared effective on August 1, 2024. The prospectus supplement related to this offering will also be filed with the Securities and Exchange Commission. Prospective investors should read the prospectus forming a part of that registration statement and the prospectus supplement related to the offering, when available, and the other documents that the Company has filed with the Securities and Exchange Commission for more complete information about the Company and the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Strawberry Fields REIT, Inc.
Strawberry Fields REIT, Inc., is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties. The Company's portfolio includes 115 healthcare facilities with an aggregate of 12,900+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee, and Texas. The 115 healthcare facilities comprise 104 skilled nursing facilities, nine assisted living facilities, and two long-term acute care hospitals.