Chiron Real Estate announced an agreement for up to a $100 million delayed-draw convertible perpetual preferred equity investment led by Maewyn Capital Partners.
The company said the financing is intended to support portfolio repositioning efforts and accelerate investments into higher-return healthcare real estate opportunities, including senior housing and other targeted healthcare sectors.
Under the agreement, Chiron will issue up to $100 million of Series C convertible perpetual preferred stock either in a single draw or multiple tranches within six months. The preferred securities will carry a 6% annual dividend payable quarterly in cash, with the rate increasing after the fourth anniversary of the final draw if the securities remain outstanding.
Holders of the Series C preferred stock may convert the securities into Chiron common shares at a conversion price of $43 per share. Beginning three years after the final draw, Chiron will have the option to convert the preferred shares into common stock if the company’s volume-weighted average share price exceeds 20% above the conversion price for 45 consecutive trading days.
The company may also redeem the preferred securities at par after the fourth anniversary of the final draw. In connection with any redemption, Chiron would issue a five-year warrant to holders at the then-effective conversion price.
Chiron said the transaction provides long-term, flexible capital while preserving balance sheet strength and reflects institutional confidence in the company’s capital allocation strategy and portfolio repositioning plans.
As part of the transaction, Maewyn founder and managing partner Charles P. Fitzgerald will join Chiron’s board of directors as an independent director following the company’s annual shareholder meeting on May 20, 2026.
Chiron is a real estate investment trust focused on healthcare real estate investments. Maewyn Capital Partners is a Dallas-based investment firm founded in 2025 by Charles P. Fitzgerald.
KEY QUOTES:
“This growth equity investment represents an important milestone in the repositioning of Chiron. Maewyn’s capital provides long-term flexibility and is expected to accelerate our transition toward higher-return opportunities across the healthcare real estate spectrum. We are focused on disciplined capital allocation and believe this investment further aligns our capital structure with our objective of driving long-term earnings growth.”
Mark Decker Jr., Chief Executive Officer And President, Chiron
“I have known Mark Decker for nearly 20 years and have a high regard for his leadership and capital allocation discipline. Chiron has a unique opportunity to reposition its portfolio and drive meaningfully higher long-term returns, and we believe Mark is well suited to lead the Company through this transition given his experience and track record. Our capital is designed to be flexible and aligned with the Company’s needs, enabling management to execute on its strategy and accelerate this transition. We are excited to partner with Mark, the management team, and the Board as they continue to evolve Chiron into a differentiated and disciplined allocator of capital.”
Charles P. Fitzgerald, Founder And Managing Partner, Maewyn Capital Partners
