Hospitality Properties Trust Announces Proposed Public Offering of 11,000,000 Common Shares
August 15 2016 - 4:05PM
Business Wire
Hospitality Properties Trust (Nasdaq: HPT) today announced that
it has commenced a public offering of 11,000,000 common shares. HPT
expects to use the proceeds of this offering to repay amounts
outstanding under its unsecured revolving credit facility and for
general business purposes. It is contemplated that the underwriters
will also be granted a 30-day option to purchase up to an
additional 1,650,000 common shares.
The joint bookrunning managers for this offering are Citigroup,
BofA Merrill Lynch and Morgan Stanley.
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 preliminary 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: Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus
Department, NC1-004-03-43, 200 North College Street, 3rd Floor,
Charlotte, NC 28255-0001, email: dg.prospectus_requests@baml.com;
or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014.
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 HPT’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
- ALTHOUGH THIS PRESS RELEASE REFERS TO
AN OFFERING OF 11,000,000 COMMON SHARES, GREATER OR LESS THAN
11,000,000 COMMON SHARES MAY BE SOLD OR THIS OFFERING MAY BE
WITHDRAWN.
- IF HPT AGREES TO SELL COMMON SHARES IN
THE OFFERING, THE CLOSING OF THE OFFERING WILL BE 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, THE
SALE OF THE SHARES MAY NOT CLOSE.
- THIS PRESS RELEASE STATES THAT HPT
CONTEMPLATES THAT THE UNDERWRITERS WILL BE GRANTED AN OPTION TO
PURCHASE UP TO AN ADDITIONAL 1,650,000 COMMON SHARES. AN
IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE
EXERCISED IN WHOLE OR IN PART. IN FACT, HPT DOES NOT KNOW WHETHER
THE UNDERWRITERS WOULD 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
Nasdaq.
No shareholder, Trustee or officer is
personally liable for any act or obligation of the Trust.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160815006112/en/
Hospitality Properties Trust:Katie Strohacker,
617-796-8232Senior Director, Investor Relations
Hospitality Properties (NASDAQ:HPT)
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