Senior Housing Properties Trust Prices Offering of 12,000,000 Common Shares
NEWTON, Mass.--(BUSINESS WIRE)--
Senior Housing Properties Trust (NYSE: SNH) today announced that it
priced a public offering of 12,000,000 common shares at a price to the
public of $21.75 per share. The settlement of this offering is expected
to occur on Friday, July 13, 2012. SNH expects to use the net proceeds
of this offering to repay amounts outstanding under its revolving credit
facility. The underwriters have been granted a 30-day option to purchase
up to an additional 1,800,000 common shares.
The joint book-running managers for this offering are Jefferies &
Company, Inc., Citigroup and UBS Investment Bank. The co-lead managers
for this offering are BofA Merrill Lynch, Morgan Stanley, RBC Capital
Markets and Wells Fargo Securities. The co-managers for this offering
are Janney Montgomery Scott LLC, JMP Securities and Sandler O'Neill &
This press release is neither an offer to sell nor a solicitation of an
offer to buy shares, nor shall there be any sale of these securities in
any state or jurisdiction in which the offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of such state or jurisdiction. The prospectus supplement relating
to this offering and related prospectus are expected to be filed with
the Securities and Exchange Commission (SEC) and copies can be obtained
by contacting the offices of: Jefferies & Company, Inc., 520 Madison
Avenue, 12th floor, New York, NY 10022, telephone: (877) 547-6340,
Citigroup, Prospectus Department, Brooklyn Army Terminal, 140 58th
Street, 8th floor, Brooklyn, NY 11220, telephone: (800) 831-9146 or UBS
Investment Bank, Attn: Prospectus Dept., 299 Park Avenue, New York, NY
10171, telephone: (888) 827-7275.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
SNH'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE FORWARD LOOKING
STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE OFFERING OF
COMMON SHARES IS EXPECTED TO OCCUR ON FRIDAY, JULY 13, 2012. IN FACT,
THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND
CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE
UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED
CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN
OPTION TO PURCHASE UP TO AN ADDITIONAL 1,800,000 COMMON SHARES. AN
IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED
IN WHOLE OR IN PART. IN FACT, SNH DOES NOT KNOW WHETHER THE
UNDERWRITERS WILL EXERCISE THIS OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange.
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
Senior Housing Properties Trust
Timothy A. Bonang, 617-796-8234
President, Investor Relations
Elisabeth A. Heiss,
Manager, Investor Relations
Source: Senior Housing Properties Trust
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