AGOURA HILLS, Calif.,
Aug. 14, 2017 /PRNewswire/
-- American Homes 4 Rent (NYSE: AMH) (the "Company") today
announced that it has commenced an underwritten public offering of
10,000,000 of its Class A common shares of beneficial interest,
$0.01 par value per share. The
Company also plans to grant to the underwriters a 30-day option to
purchase up to an additional 1,500,000 Class A common shares.
The Company intends to use the net proceeds from the offering to
repay indebtedness under its revolving credit facility and term
loan facility, to acquire and renovate single-family properties and
for working capital and general corporate purposes, including
repurchases of its Class A common shares pursuant to its existing
share repurchase program. The foregoing application may be
effected through the Company's operating partnership by the Company
contributing a portion of the net proceeds to its operating
partnership in exchange for Class A partnership units.
BofA Merrill Lynch and Citigroup are acting as joint
book-running managers for the offering and propose to offer the
Class A common shares from time to time for sale in one or more
transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or
otherwise at prevailing market prices, at prices related to
prevailing market prices or at negotiated prices.
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 preliminary prospectus
supplement relating to the offering and the final prospectus
supplement, when available, may be obtained by visiting EDGAR on
the SEC's website at www.sec.gov or from BofA Merrill
Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte,
North Carolina 28255-0001, or via email
dg.prospectus_requests@baml.com; and Citigroup, Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or via
telephone (800) 831-9146.
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 single-family homes as rental properties. As
of June 30, 2017, we owned
approximately 48,982 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