American Healthcare REIT Inc. is pricing shares in an initial public offering at the bottom of a marketed range to raise $672 million, according to people familiar with the matter.
The Irvine, California-based senior housing and assisted living property owner is selling 56 million shares for $12 each, said the people, who asked not to be identified because the information wasn’t public yet. The real estate investment trust had marketed the shares for $12 and $15.
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