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LTC Announces Closing of Public Offering of 3,990,000 Shares of Common Stock

^{Published on 2011-03-28 13:10:18 - Market Wire}
 

WESTLAKE VILLAGE, Calif.--([ BUSINESS WIRE ])--LTC Properties, Inc. (the aCompanya) (NYSE:LTC) announced today that it has closed its previously-announced public offering of 3,500,000 shares of its common stock at a price of $27.25 per share. In addition, the Company has sold 490,000 shares of its common stock at a price of $27.25 per share pursuant to the underwritersa™ option to purchase additional shares, resulting in a total public offering of 3,990,000 shares for gross proceeds of approximately $108.7 million.

KeyBanc Capital Markets, Wells Fargo Securities, RBC Capital Markets and BMO Capital Markets acted as joint book-running managers for the Offering. CSCA, J.J.B. Hilliard, W.L. Lyons, LLC and JMP Securities acted as co-managers for the Offering.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. For more information on LTC Properties, Inc., visit the Companya™s website at [ www.LTCProperties.com ].