LTC Properties sets up $400 million equity sale program and ends $200 million program
LTC Properties entered into a new equity distribution agreement allowing it to sell up to $400 million of common stock through sales agents and forward sale agreements. The company also terminated its earlier at-the-market program, which had a $200 million capacity and about $1.5 million of unsold shares, to move to the new agreement.
Key points
- New agreement covers up to $400 million in aggregate offering price of common stock, dated November 13, 2024.
- Sales agents may be paid commissions of up to 2.0% of gross sales price.
- Proceeds are intended to pay down the unsecured revolving line of credit, fund acquisitions and originations, and for working capital and general corporate purposes.
- Terminated agreements dated March 1, 2019 and November 19, 2021 had about $1.5 million of shares unsold at termination.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 13, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.