LTC Properties launches up to $500M at-the-market common stock offering at $38.72/share

Filed August 6, 2026 · ~2 min read

Key Changes

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  LTC Properties is offering up to $500 million of common stock through an at-the-market program, with shares trading at $38.72 on August 5, 2026. The offering includes both newly issued shares and borrowed shares sold through forward sale agreements.

  The Offering verify on EDGAR →
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  Net proceeds will pay down the company's $356 million revolving credit line (SOFR + 105 bps, maturing 2029), fund acquisitions and originations, and general corporate purposes. Affiliates of the offering agents are lenders under the company's credit facilities and will receive their proportionate share of any repayment.

  Use of Proceeds verify on EDGAR →
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  Forward sale agreements create timing uncertainty: the company receives no proceeds when Forward Sellers sell borrowed shares, only upon physical settlement at future dates. The forward sale price adjusts daily based on a floating rate minus a spread and is reduced by expected dividends; if the daily rate falls below the spread, proceeds decrease daily.

  Use of Proceeds verify on EDGAR →