Hospitality Properties Trust Prices Offering of 11,000,000 Common Shares
August 15 2016 - 8:40PM
Business Wire
Hospitality Properties Trust (Nasdaq: HPT) today announced that
it has priced a public offering of 11,000,000 common shares at a
price to the public of $30.75 per common share. The settlement of
this offering is expected to occur on August 19, 2016. HPT expects
to use the proceeds of this offering to repay amounts outstanding
under its unsecured revolving credit facility and for general
business purposes. The underwriters have been 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. The joint lead managers for
this offering are Jefferies, RBC Capital Markets and UBS Investment
Bank. The co-managers of this offering are Baird, BB&T Capital
Markets, Cannacord Genuity, Cantor Fitzgerald & Co., D.A.
Davidson & Co., FBR, Janney Montgomery Scott, 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 will 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:
- THIS PRESS RELEASE STATES THAT THE
COMPANY EXPECTS THE SETTLEMENT OF THE COMMON SHARES TO OCCUR ON
AUGUST 19, 2016. IN FACT, THE ISSUANCE AND DELIVERY OF THE COMMON
SHARES 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 1,650,000 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 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
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/20160815006237/en/
Hospitality Properties TrustKatie Strohacker, 617-796-8232Senior
Director, Investor Relations
Hospitality Properties (NASDAQ:HPT)
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