Healthcare Trust, Inc. Announces Intent to Internalize Management, Announces Plan to Rebrand as National Healthcare Properties
July 01 2024 - 6:00AM
Business Wire
Healthcare Trust, Inc. (Nasdaq: HTIA / HTIBP) (“HTI”) announced
today that, in anticipation of a potential future listing of HTI’s
common stock on a national securities exchange, it has provided
notice to Healthcare Trust Advisors, LLC (the “Advisor”), the
external advisor to HTI, of its intent to transition to
self-management and internalize management functions (the
“Internalization”). The Company expects the Internalization to
close no later than the fourth quarter of 2024, subject to
negotiation and execution of definitive agreements. The Company
believes that the consummation of the Internalization will be an
important step in the Company’s ongoing evaluation of a potential
listing of its common stock on a national securities exchange,
which could occur, subject to market conditions, as early as
2025.
“We are excited to embark on this next phase of our Company and
believe this is a milestone event for HTI. We look forward to
working with the Advisor to consummate this Internalization and
better position ourselves for a potential listing, which we believe
would provide HTI with access to additional capital and liquidity
for our existing stockholders,” said Michael Anderson, Chief
Executive Officer of HTI.
The Company intends to change its name to National Healthcare
Properties, Inc. in connection with the anticipated
Internalization.
There can be no assurance that the Internalization will close
within the anticipated time frame or at all, or that the HTI will
be able to list its shares of common stock on a national securities
exchange.
Important Notice
The statements in this press release that are not historical
facts may be forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties that
could cause actual results or events to be materially different.
The words “anticipates,” “believes,” “expects,” “estimates,”
“projects,” “plans,” “intends,” “may,” “will,” “would” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements are subject to
a number of risks, uncertainties and other factors, many of which
are outside of HTI’s control, which could cause actual results to
differ materially from the results contemplated by the
forward-looking statements. These risks and uncertainties include
the potential adverse effects of (i) a resurgence of the global
COVID-19 pandemic, including actions taken to contain or treat
COVID-19, (ii) the geopolitical instability due to the ongoing
military conflict between Russia and Ukraine and Israel and Hamas,
including related sanctions and other penalties imposed by the U.S.
and European Union, and the related impact on HTI, HTI’s tenants,
HTI’s operators and the global economy and financial markets, and
(iii) inflationary conditions and higher interest rate
environments, as well as those risks and uncertainties set forth in
the Risk Factors section of HTI’s Annual Report on Form 10-K for
the year ended December 31, 2023 filed on March 15, 2024, as
amended by the Form 10-K/A filed on March 22, 2024, and all other
filings with the Securities and Exchange Commission after that
date, as such risks, uncertainties and other important factors may
be updated from time to time in HTI’s subsequent filings with the
Securities and Exchange Commission. Further, forward-looking
statements speak only as of the date they are made, and HTI
undertakes no obligation to update or revise any forward-looking
statement to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time, unless required to do so by law.
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