Senior Housing Properties Trust Prices Offering of 10,000,000 Common Shares
NEWTON, Mass.--(BUSINESS WIRE)--
Senior Housing Properties Trust (NYSE: SNH) today announced it priced a
public offering of 10,000,000 common shares at a price to the public of
$22.50 per share. The settlement of this offering is expected to occur
on Friday, July 1, 2011. SNH expects to use the proceeds of this
offering to repay amounts outstanding under its revolving credit
facility and for general business purposes, including funding
acquisitions. The underwriters have been granted a 30-day option to
purchase up to an additional 1,500,000 common shares to cover
over-allotments, if any.
The joint bookrunning managers for this offering are Jefferies &
Company, Inc., Citi and UBS Investment Bank. The co-lead managers for
this offering are Morgan Keegan, Morgan Stanley, RBC Capital Markets and
Wells Fargo Securities. The co-managers for this offering are BB&T
Capital Markets, Janney Montgomery Scott LLC, JMP Securities and
Oppenheimer & Co.
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, Citi,
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 ext. 3884.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER FEDERAL 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 1, 2011. 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 1,500,000 COMMON SHARES TO
COVER OVER-ALLOTMENTS, IF ANY. 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.
No
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
Vice
President, Investor Relations
or
Elisabeth A. Heiss, (617)
796-8234
Manager, Investor Relations
Source: Senior Housing Properties Trust
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