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Get filing alertsNHP launches $100M tender for preferred stock at $22.50/share, prioritizing Series A
Filed May 18, 2026 · Period ending May 18, 2026 · ~1 min read
Key Changes
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Offers to repurchase up to $100M combined of 7.375% Series A and 7.125% Series B preferred stock at $22.50/share through June 16, 2026, funded with available cash.
Item 8.01 — Other Events verify on EDGAR → -
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Series A shares receive purchase priority over Series B; within each series, odd-lot holders tendering all shares get priority. Series B may be prorated if $100M cap is reached.
Exhibit 99.1 view on EDGAR → -
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Shareholders can withdraw tendered shares anytime before June 16 expiration. Company can extend or terminate either offer; no minimum tender or financing conditions disclosed.
Exhibit 99.1 view on EDGAR →
Summary
National Healthcare Properties launched concurrent tender offers to repurchase up to $100 million of its preferred stock at $22.50 per share, targeting both its 7.375% Series A and 7.125% Series B cumulative perpetual preferred shares. The offers run through June 16, 2026, with payment from available cash.
Series A shares receive purchase priority, meaning all validly tendered Series A shares will be accepted before any Series B shares are purchased. Within each series, odd-lot holders (fewer than 100 shares) who tender their full position receive priority.
For preferred shareholders, the $22.The priority structure matters: Series B holders face proration risk if Series A tenders consume most or all of the $100 million cap. The company's ability to fund the repurchase with available cash suggests adequate liquidity, though the tender reduces capital that could otherwise support operations or common dividends. Shareholders have flexibility to withdraw tenders anytime before expiration.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 14, 2026 · How we verify