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Financial News Network
February 01, 2011 AT 7:57 PM
Ventas (VTR) today announced that it has entered into an agreement to sell 5,563,000 shares of its common stock to UBS Investment Bank, as sole underwriter, in an underwritten public offering at a price to public of $54.07. The company has stated that it will use the net proceeds to repay existing mortgage debt and for working capital and other general corporate purposes, including to fund future acquisitions or investments, should there be any. The offering will close subject to customary closing conditions. Shares are down 2.42% to $54.12.