CareTrust REIT, Inc. Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

SAN CLEMENTE, Calif., March 29, 2016 -- CareTrust REIT, Inc. (Nasdaq:CTRE) announced the closing of its underwritten public offering of 8,500,000 shares of its common stock at a price to the public of $11.35 per share. The Company also announced that the underwriters exercised in full their option to purchase up to an additional 1,275,000 shares of common stock at the public offering price, less the underwriting discount. Closing of the sale of the additional 1,275,000 shares was also completed today.

The Company intends to contribute the net proceeds to CTR Partnership, L.P., its operating partnership, which in turn intends to use the net proceeds to fund pending acquisitions and may, in the interim, repay borrowings outstanding on the Company’s revolving credit facility.

KeyBanc Capital Markets, Wells Fargo Securities, BMO Capital Markets, Raymond James and Barclays acted as joint book-running managers for the offering. RBC Capital Markets, Canaccord Genuity, Capital One Securities and Fifth Third Securities acted as co-managers for the offering.

A shelf registration statement (including prospectus) relating to the Company’s common stock was previously filed with the Securities and Exchange Commission and has been declared effective.

This offering was made by means of a prospectus supplement and the accompanying prospectus. You should read the prospectus supplement and accompanying prospectus and other documents filed by the Company with the Securities and Exchange Commission for more complete information about the Company and this offering  You may obtain copies of the prospectus supplement and accompanying prospectus from KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783, Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152 or by telephone at (800) 326-5897 or email a request to [email protected], or BMO Capital Markets Corp., Attention: Syndicate Department, 3 Times Square, 25th Floor, New York, New York 10036 or by telephone at (800) 414-3627 or by email at [email protected]. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any state or 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 jurisdiction.

About CareTrust^TM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that is engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 133 net-leased healthcare properties and three operated seniors housing properties in 18 states, CareTrust is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

CONTACT: CareTrust REIT, Inc. (949) 542-3130, [email protected]