Examples of Ventas Common Stock in a sentence
The number of shares of Ventas Common Stock that will be issued in the Merger will depend on, among other factors, the number of shares of New Senior Common Stock and New Senior equity awards outstanding immediately prior to the Effective Time.
Because of this, the implied value of the consideration to New Senior stockholders in the Merger based on the trading price of shares of Ventas Common Stock will fluctuate between now and the completion of the Merger.
Under the Merger Agreement, between June 28, 2021 and the earlier of the Effective Time and the termination of the Merger Agreement, neither Ventas nor New Senior may declare, make or pay any dividend without the consent of the other party other than a regular quarterly cash dividend of up to $0.065 per share of New Senior Common Stock in the case of New Senior and up to $0.45 per share of Ventas Common Stock in the case of Ventas.
Ventas Common Stock will not, however, constitute a USRPI so long as it is a “domestically controlled qualified investment entity.” A “domestically controlled qualified investment entity” includes a REIT in which at all times during a five-year testing period less than 50% in value of its stock is held directly or indirectly by non-United States persons, subject to certain rules.
Prospective investors should consult their tax advisors regarding the potential application of withholding under FATCA to their investment in Ventas Common Stock.
Holders of shares of Ventas Common Stock are not required to take any action with respect to their shares of Ventas Common Stock.
Taxation of Non-U.S. Holders of New Senior Common Stock On the basis of the opinion described above, the U.S. federal income tax consequences of the Merger to non-U.S. holders of New Senior Common Stock generally will be as follows: Upon exchanging New Senior Common Stock for Ventas Common Stock, a non-U.S. holder generally will not recognize gain or loss, except with respect to any cash received in lieu of fractional shares of Ventas Common Stock.
In connection with the issuance of Ventas Common Stock in the Merger, pursuant to the Merger Agreement, as a condition to the closing of the Merger, Ventas must file a registration statement on Form S-4 with the SEC under the Securities Act, of which this proxy statement/prospectus forms a part, that is declared effective by the SEC and must not be the subject of any stop order or proceedings seeking a stop order.
A U.S. holder generally may elect to treat capital gain dividends, capital gains from the disposition of Ventas Common Stock and income designated as qualified dividend income, as described in the section entitled “— Tax Rates” beginning on page 106 of this proxy statement/prospectus, as investment income for purposes of computing the investment interest limitation, but in such case, the holder will be taxed at ordinary income rates on such amount.
U.S. holders that acquired different blocks of New Senior Common Stock at different times or at different prices should consult their tax advisors regarding the allocation of the tax basis and holding period of such shares to particular shares of Ventas Common Stock received in the Merger.