Impact Healthcare REIT intends to launch a 12-month placing programme that will enable the investor to issue up to 200 million new ordinary shares.
The company has invested or committed the majority of the £240m of equity and debt capital raised since its initial public offering in March 2017 and is implementing the placing of new shares to take advantage of a strong pipeline of opportunities.
Impact Health Partners LLP, the investment adviser working on behalf of Impact, is at various stages of negotiations on potential acquisitions with a total value of more than £400m.
There are twelve potential near-term transactions under review by the adviser and solicitors have been instructed on four of them.
In addition, Impact Health Partners has identified organic growth opportunities to add more than 500 beds to the company’s existing portfolio.
Up to 31 December 2018, capital had been committed to add 188 of these beds, which are expected to deliver an annual rental uplift of at least £1.3m once they are operational.
A prospectus in connection with the placing programme is expected to be published shortly.