American Healthcare REIT looks to raise as much as $840 million from its initial public offering. The Irvine-based nontraded REIT plans to offer 56 million shares in an estimated price range of $12 to $15 per share, along with granting the IPO’s underwriters the option of purchasing up to 8.4 million additional shares.

The company has been approved to list on the New York Stock Exchange under the symbol AHR. Formerly known as Griffin-American Healthcare REIT IV, the REIT filed a registration statement with the SEC in September 2022.

Timing for the IPO’s final closing and listing hadn’t been determined by the close of the markets on Tuesday. BofA Securities and Morgan Stanley are acting as lead book-running managers for the offering. KeyBanc Capital Markets, Citigroup, RBC Capital Markets, Barclays and Truist Securities are acting as bookrunners, while JMP Securities, A Citizens Company, Fifth Third Securities, Regions Securities LLC and Credit Agricole CIB are acting as co-managers.

The self-managed REIT had a portfolio valued at $4.6 billion as of Sept. 30, 2023, spanning 298 buildings and integrated senior health campuses in 36 states, the United Kingdom and the Isle of Man, representing approximately 18.9 million square feet of gross leasable area.

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