National Healthcare Properties (NHP) priced its IPO at $12.00 – $1.00 below the bottom of its $13.00-to-$16.00 range on Tuesday night, April 21, 2026 – and sold 38.5 million shares – the number in the prospectus – to raise $462 million. Shares of National Healthcare Properties (NHP) dipped 44 cents below their IPO price to open at $11.56 in their NASDAQ debut at 12:34 p.m. EDT on Wednesday, April 22, 2026, on volume of 1.94 million shares. The New York-based company is a REIT – a real estate investment trust – focused on senior housing.
At Wednesday’s closing bell, National Healthcare Properties’ stock was at $12.00 – the same as its IPO price – for a 44-cent gain from its opening trade of $11.56 – below issue price – in its first day of NASDAQ trading. Volume was 9.88 million shares.
Wells Fargo Securities, Morgan Stanley, BMO Capital Markets and Goldman Sachs led the joint book-runners’ team.
National Healthcare Properties (NHP) owns 37 senior housing communities, the prospectus said.
All are run under a RIDEA structure, which means that they are less dependent on government reimbursement programs like Medicare and Medicaid. Under a RIDEA structure, the residents typically pay for the services.
National Healthcare Properties (NHP) intends to use the IPO’s proceeds to pay off about $186 million in debt, the prospectus said.
For the year that ended Dec. 31, 2025, National Healthcare Properties (NHP) reported a net loss of $71.07 million on revenue of $342.28 million.
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