AGOURA HILLS, Calif.,
April 19, 2017 /PRNewswire/
-- American Homes 4 Rent (NYSE: AMH) (the "Company") today
announced that it has priced its previously announced
underwritten public offering of 6,000,000 of its 5.875% Series F
Cumulative Redeemable Perpetual Preferred Shares (the "Series F
Preferred Shares") raising gross proceeds of approximately
$150 million, before deducting
underwriting discounts and commissions and estimated offering
expenses. The Series F Preferred Shares have an initial liquidation
preference of $25 per share. The
offering is expected to close on April 24,
2017, subject to customary closing conditions. The Company
also has granted to the underwriters a 30-day option to purchase up
to an additional 900,000 Series F Preferred Shares at the public
offering price, less the underwriting discount. The Company intends
to apply to list the Series F Preferred Shares on the New York
Stock Exchange under the symbol "AMHPRF." If the application is
approved, the Company expects trading to commence 30 days after
initial delivery of the Series F Preferred Shares.
The Company will contribute the net proceeds from the offering
to its operating partnership in exchange for Series F operating
partnership units. The operating partnership intends to use the net
proceeds from the contribution to repay indebtedness under its
revolving credit facility and term loan facility.
Raymond James & Associates,
Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are
acting as joint book-running managers for the offering, and
Goldman, Sachs & Co., Jefferies LLC, J.P. Morgan Securities LLC
and U.S. Bancorp Investment, Inc. are acting as co-managers for the
offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful before registration
or qualification thereof under the securities laws of any such
state or jurisdiction.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the "SEC") and only by means of a prospectus and
prospectus supplement. Copies of the final prospectus and
final prospectus supplement relating to the offering may be
obtained, when available, by visiting EDGAR on the SEC's website at
www.sec.gov or from Raymond James
& Associates, Inc., Attention: Equity Syndicate, 880 Carillon
Parkway, St. Petersburg, Florida
33716, or via telephone: (800) 248-8863 or via email:
prospectus@raymondjames.com; Merrill Lynch, Pierce, Fenner &
Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, North Carolina
28255-0001, Attention: Prospectus Department, or via telephone
(800) 294-1322 or via email: dg.prospectus_requests@baml.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York,
NY 10014, or via telephone (866) 718-1649; and Wells Fargo
Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer
Service, or via telephone: (800) 645-3751 or via email:
wfscustomerservice@wellsfargo.com.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the
single-family home rental industry and "American Homes 4 Rent" is
fast becoming a nationally recognized brand for rental homes, known
for high quality, good value and tenant satisfaction. We are an
internally managed Maryland real
estate investment trust, or REIT, focused on acquiring, renovating,
leasing, and operating attractive, single-family homes as rental
properties. As of December 31, 2016,
we owned approximately 48,422 single-family properties, in selected
submarkets in 22 states.
Forward-Looking Statements
This press release contains "forward-looking statements." These
forward-looking statements relate to beliefs, expectations or
intentions and similar statements concerning matters that are not
of historical fact and are generally accompanied by words such as
"estimate," "project," "predict," "believe," "expect," "intend,"
"anticipate," "potential," "plan," "goal" or other words that
convey the uncertainty of future events or outcomes. These
forward-looking statements may include, but are not limited to, the
Company's ability to complete the offering and the intended use of
net proceeds. The Company has based these forward-looking
statements on its current expectations and assumptions about future
events. While the Company's management considers these expectations
to be reasonable, they are inherently subject to risks,
contingencies and uncertainties, most of which are difficult to
predict and many of which are beyond the Company's control. These
and other important factors, including "Risk Factors" disclosed in,
or incorporated by reference into, the prospectus from the
Company's Annual Report on Form 10-K for the year ended
December 31, 2016 and in the
Company's subsequent filings with the SEC, may cause the Company's
actual results to differ materially from anticipated results
expressed or implied by these forward-looking statements. Investors
should not place undue reliance on these forward-looking
statements.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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SOURCE American Homes 4 Rent