National Healthcare Properties' IPO
Listed Apr 22, 2026 at $12 on Nasdaq as NHP. Today 31% above its $12 offer price; its first day closed 0.0%.
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National Healthcare Properties in brief
| Fact | National Healthcare Properties |
|---|---|
| Founded | 2018 |
| Headquarters | New York, New York |
| Employees | 31, as of December 31, 2025 |
| Website | nhpreit.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | National Healthcare Properties |
|---|---|
| Shares offered | 38,500,000 |
| Offer price | $12 a share |
| Raised at that price | $462 million |
| Underwriters' discount | $27.7 million |
| Underwriters' option | 5,775,000 more shares |
| Underwriters | Wells Fargo, Morgan Stanley, BMO Capital Markets, Goldman Sachs, RBC Capital Markets, and Credit Agricole, with 1 more |
| Exchange | Nasdaq Global Market, as NHP |
| Shares outstanding after | 73,553,433 |
| Market cap at the offer price | $883 million |
What risks does National Healthcare Properties name first?
- “Our property portfolio has a high concentration of properties located in certain states.”
- “We may be unable to enter into contracts for and complete property acquisitions (especially in the SHOP segment) or dispositions on advantageous terms and our property acquisitions may not perform as we expect.”
- “Rising expenses could reduce cash flow.”
Dates so far
| What | Day |
|---|---|
| Exchange registration filed | Apr 21, 2026 |
| Declared effective by the SEC | Apr 21, 2026 |
| Priced | Apr 21, 2026 |
| First trade | Apr 22, 2026 |
| Lock-up ends | Oct 18, 2026 |
How did its first days trade?
From its daily bars, each close against its $12 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Apr 22 | $11.56 | $12 | 0.0% |
| Apr 23 | $12.20 | $12.50 | +4.2% |
| Apr 24 | $12.49 | $12.85 | +7.1% |
| Apr 27 | $12.66 | $13 | +8.3% |
| Apr 28 | $13.13 | $13.34 | +11.2% |
What is National Healthcare Properties' Quality Score?
Below Average
NHP's page, with every reason behind its scoreThe other IPOs expected
| Company | Price |
|---|---|
| $11 to $13 | |
| $19 to $21 | |
| Tracx Logis | |
| $4 to $5 |
National Healthcare Properties IPO questions
When is National Healthcare Properties' IPO?
Listed Apr 22, 2026 at $12 on Nasdaq as NHP.
What is National Healthcare Properties' IPO price?
National Healthcare Properties' IPO priced at $12 a share, per its final prospectus of Apr 22, 2026.
How many shares is National Healthcare Properties selling?
38,500,000 shares, and the underwriters may buy 5,775,000 more, per its final prospectus (424B4).
Who are the underwriters?
Wells Fargo, Morgan Stanley, BMO Capital Markets, Goldman Sachs, RBC Capital Markets, Credit Agricole, and Synovus, as the prospectus's cover names them.
When does the lock-up end?
National Healthcare Properties' IPO lock-up ends Oct 18, 2026. Its final prospectus says: “180 days after the date of this prospectus.”
Does Breakaway rate National Healthcare Properties?
National Healthcare Properties has a Quality Score of 2 today. The score counts the 14 chart checks and the company's filings; a check that needs more history than a new stock has waits for it.
Can Breakaway say where National Healthcare Properties' price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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