National Healthcare Properties (Nasdaq:NHP) announced preliminary results of concurrent self tender offers for its 7.375% Series A and 7.125% Series B preferred stock.
The company expects to purchase about 556,049 Series A and 566,229 Series B shares at $22.50 per share, totaling approximately $25.25 million, subject to final confirmation.
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Positive
Preliminary repurchase of approximately $25.25 million in preferred shares
Tender price set at a clear $22.50 per share for both series
Concurrent self tender offers provide liquidity option for preferred shareholders
Negative
Cash outlay of approximately $25.25 million reduces available corporate liquidity
Company restricted from further preferred repurchases for at least ten business days
News Market Reaction – NHP
+6.52%
5 alerts
+6.52%Session close to close
$1.05BMarket Cap
1.3xRel. Volume
In the Jun 18 session, NHP gained 6.52%, reflecting a notable positive market reaction.
Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.
The stock moved +6.5% in the session following this news. A strong positive reaction aligns with the...
Analysis
The stock moved +6.5% in the session following this news. A strong positive reaction aligns with the company’s use of cash to retire higher-cost preferred equity at $22.50 per share, while common stock traded around 13.47 before the news. Elevated volume of 911,237 shares and a price below the 200-day MA suggested investors had been cautious. Future moves could depend on execution of the $100 million tender capacity and progress on the $528 million asset sale.
Key Figures
Tender offer size:$100 millionTender price:$22.50 per shareSeries A dividend rate:7.375%+5 more
8 metrics
Tender offer size$100 millionMaximum aggregate purchase price for Series A and B preferred self tender
Tender price$22.50 per shareCash purchase price for each Series A and Series B preferred share
Series A dividend rate7.375%Coupon on Series A Cumulative Redeemable Perpetual Preferred Stock
Series B dividend rate7.125%Coupon on Series B Cumulative Redeemable Perpetual Preferred Stock
Series A shares tendered556,049 sharesPreliminary Series A preferred shares properly tendered
Series B shares tendered566,229 sharesPreliminary Series B preferred shares properly tendered
Tender cost$25.25 millionApproximate aggregate purchase price for tendered Series A and B shares
Portfolio sale value$528 millionValue of 86 outpatient medical facilities under sale agreement (8-K)
Key Terms
self tender offers, cumulative redeemable perpetual preferred stock, notice of guaranteed delivery, information agent, +1 more
5 terms
self tender offersfinancial
"today announced the preliminary results of its concurrent but separate offers to purchase..."
A self tender offer is when a company offers to buy back its own shares directly from shareholders at a set price for a limited time, similar to a store offering to repurchase some of its gift cards. Investors care because it reduces the number of shares available, can put upward pressure on the stock price, changes each remaining shareholder’s ownership stake, and signals how management values the business compared with the market.
"its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share..."
A cumulative redeemable perpetual preferred stock is a type of ownership share that pays fixed dividends forever unless the company stops them, and any missed dividends accumulate and must be paid later. It can be redeemed (bought back) by the issuer at specified times or prices, so it behaves partly like a long-term loan; investors care because it sits ahead of common shares for payments and can affect a company’s cash needs and perceived credit risk.
notice of guaranteed deliveryregulatory
"assumes that all Shares tendered through notice of guaranteed delivery will be delivered..."
A notice of guaranteed delivery is a short, written promise used when investors want to sell shares in a tender offer but cannot deliver the physical or electronic share certificates by the offer deadline. It acts like a post-dated IOU: the seller guarantees they will provide the required documents within a short, specified window while still qualifying for the offer’s price and terms. For investors this preserves their right to participate in a deal while giving extra time to complete paperwork, but it also creates a reliance on timely follow-through to receive payment.
information agentregulatory
"For all questions relating to the Offers, please call the information agent, Georgeson LLC..."
An information agent is a person, team, or third-party service designated to collect, verify and distribute a company’s important announcements, filings or notices to regulators, shareholders and the public. Think of it as the company’s official mailroom and translator combined—responsible for making sure the right facts get to the right people quickly and accurately; investors watch who serves this role because mistakes or delays can affect compliance, market reaction and trust.
preferred stock repurchase programfinancial
"The Company may purchase additional Series A Shares or Series B Shares in the future, including... under its publicly announced preferred stock repurchase program."
A preferred stock repurchase program is when a company commits to buy back its own preferred shares from investors on an ongoing or scheduled basis, sometimes at a stated price or under specified terms. For investors it matters because repurchases can provide liquidity to holders, signal management confidence, and often raise the value or dividend coverage of the remaining preferred shares—similar to a store buying back coupons so the leftover coupons become relatively more valuable.
NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”), a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States, today announced the preliminary results of its concurrent but separate offers to purchase up to a maximum aggregate purchase price in cash of $100 million of (i) its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series A Shares”), and (ii) its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series B Shares,” and together with the Series A Shares, the “Shares”), in each case for a purchase price of $22.50 per share in cash (collectively, the “Offers”), each less any applicable withholding taxes and without interest. The Offers each expired at 5:00 p.m., New York City time, on June 16, 2026 (the “Expiration Date”).
Based on the preliminary count by Computershare Inc. (“Computershare”), the depositary for the Offers, approximately 556,049 Series A Shares and 566,229 Series B Shares were properly tendered and not properly withdrawn as of the expiration of the Offers.
In accordance with the terms and conditions of the Offers, the Company expects to purchase approximately 556,049 Series A Shares and 566,229 Series B Shares, for an aggregate purchase price of approximately $25.25 million. The determination of the final number of Shares to be purchased is subject to confirmation by Computershare of the proper delivery of the Shares validly tendered and not withdrawn.
The number of Shares to be purchased in the Offers is preliminary and subject to change for a number of reasons. The preliminary information contained in this press release, including the number of Shares to be purchased is subject to verification by Computershare, and assumes that all Shares tendered through notice of guaranteed delivery will be delivered within two trading days of the Expiration Date. The actual number of Shares to be purchased will be announced following the expiration of the guaranteed delivery period and completion of the confirmation process by Computershare. Promptly after the announcement of the final results of the Offers, Computershare will issue payment in cash, less any applicable withholding taxes and without interest, for the Shares validly tendered and accepted for payment under the Offers and will return Shares tendered and not purchased in the Offers.
The Company may purchase additional Series A Shares or Series B Shares in the future, including, without limitation, under its publicly announced preferred stock repurchase program. The amount and timing of any such purchases will depend on a number of factors, including the availability of cash and/or financing on acceptable terms, the amount and timing of dividend payments, if any, and periods in which the Company is restricted from repurchasing Series A Shares or Series B Shares, as well as any decision to use cash for other strategic objectives. Under applicable law, the Company may not repurchase any additional Series A Shares or Series B Shares until at least ten business days after the expiration of the Offers, subject to certain limited exceptions provided under applicable securities laws.
For all questions relating to the Offers, please call the information agent, Georgeson LLC, toll-free at (866) 831-9374.
About National Healthcare Properties
National Healthcare Properties, Inc. (Nasdaq: NHP) is a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States. Additional information about the Company can be found on its website at nhpreit.com.
This press release may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements include the Company’s ability to complete the Offers on the terms and timing described herein, or at all. There can be no assurance that the Company will complete the Offers. Forward-looking statements generally can be identified by the use of terminology such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “should,” “predict,” “project,” “potential,” “continue” or the negatives of these terms or variations of them or similar expressions. Risks and uncertainties, the occurrence of which could adversely affect the Company’s business and cause actual results to differ materially from those expressed or implied in the forward-looking statements, include, but are not limited to, the following: the trading prices of the Series A Shares and Series B Shares; changes in economic cycles generally and in the real estate and healthcare markets specifically; the success of the Company’s growth strategy, including its ability to successfully identify, complete and integrate new acquisitions; the Company’s ability to complete acquisitions or dispositions on the terms and timing the Company expects, or at all; changes to inflation and interest rates; competition in the real estate and healthcare markets; the Company’s ability to retain certain key personnel; legislative and regulatory changes in the healthcare and real estate industries; reductions or changes in reimbursement from third-party payors, including Medicare and Medicaid; discovery of previously undetected environmentally hazardous conditions; the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; system failures, cyber incidents or deficiencies in the Company’s cybersecurity systems; the availability of capital on favorable terms, or at all; the Company’s ability to remain qualified as a real estate investment trust for U.S. federal income tax purposes; and other risks and uncertainties described in the section titled Risk Factors of the Company’s most recent Annual Report on Form 10-K and all other filings with the Securities and Exchange Commission. Finally, the Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.
FAQ
What did National Healthcare Properties (Nasdaq:NHP) announce on June 17, 2026 about its preferred stock tenders?
National Healthcare Properties announced preliminary results of concurrent self tender offers for its Series A and Series B preferred stock. According to the company, the tenders targeted up to a $100 million aggregate cash purchase, subject to final confirmation and settlement procedures.
How many National Healthcare Properties Series A and Series B preferred shares were preliminarily tendered in 2026?
According to the company, approximately 556,049 Series A and 566,229 Series B preferred shares were properly tendered and not withdrawn. These preliminary counts remain subject to verification by Computershare and confirmation of shares delivered through notices of guaranteed delivery.
What is the purchase price in National Healthcare Properties’ 2026 preferred stock self tender offers (NHP)?
The company set a purchase price of $22.50 per share in cash for both Series A and Series B preferred shares. According to the company, this price is payable less any applicable withholding taxes and without interest to holders whose shares are accepted.
What total amount does National Healthcare Properties expect to spend in its 2026 preferred self tender offers?
National Healthcare Properties expects to pay approximately $25.25 million to repurchase tendered Series A and Series B preferred shares. According to the company, this preliminary aggregate purchase price is subject to final confirmation by Computershare after the guaranteed delivery period.
When did the National Healthcare Properties preferred stock self tender offers (NHPAP, NHPBP) expire?
The concurrent self tender offers for Series A and Series B preferred stock expired at 5:00 p.m. New York City time on June 16, 2026. According to the company, final share counts will follow completion of the guaranteed delivery and verification process.
When will shareholders in the National Healthcare Properties 2026 preferred tenders receive payment?
Payment will be made promptly after the final results are announced and confirmations are complete. According to the company, Computershare will pay cash, less applicable withholding taxes and without interest, for shares validly tendered and accepted, and return any shares not purchased.
Can National Healthcare Properties repurchase more preferred shares after the 2026 self tender offers?
The company may buy additional Series A or Series B preferred shares, including under its preferred stock repurchase program. According to the company, applicable law restricts further repurchases for at least ten business days after the offers’ expiration, subject to limited securities law exceptions.
