Business Wire·May 18, 2026, 11:25 PM ET

CareTrust REIT, Inc. Announces Pricing of Upsized Public Offering of Common Stock

CareTrust REIT announced the pricing of an underwritten public offering of 12,500,000 shares of common stock for gross proceeds of approximately $509.4 million.
The offering was upsized from a previously announced 10,000,000 shares & is expected to close on May 20, 2026.
Underwriters may purchase up to an additional 1,875,000 shares within 30 days of the prospectus supplement.
Wells Fargo Securities & J.P. Morgan acted as book-running managers for the offering.
The Company entered into forward sale agreements with Wells Fargo Securities & J.P. Morgan Securities LLC regarding 12,500,000 shares.
Forward purchasers may borrow & sell shares to underwriters, but are not required to do so if borrowing costs exceed thresholds or specific conditions are not met.
If forward purchasers fail to deliver shares, the Company will issue & sell an equivalent number of shares directly to the underwriters.
The Company intends to physically settle the forward sale agreements within approximately one year & will not initially receive proceeds from forward purchaser sales.
Net proceeds from the settlement will be contributed to CTR Partnership, L.P. for general corporate purposes such as acquisitions, investments, or debt repayment.
An automatic shelf registration statement on Form S-3 became effective on February 17, 2026, with a preliminary prospectus supplement filed with the SEC.