Senior Housing Properties Trust Prices 5,500,000 Common Share Offering
February 04 2009 - 9:25AM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it has priced a public offering of 5,500,000 common shares of
beneficial interest at a price of $17.30 per share. The settlement
of this sale is expected to occur on Monday, February 9, 2009. SNH
expects to use the net proceeds for the repayment of borrowings
outstanding under its revolving credit facility and for general
business purposes, including funding in part pending acquisitions
or possible future acquisitions of properties. The underwriters
have been granted a 30-day option to purchase up to an additional
825,000 shares to cover over allotments, if any. The offering size
has been increased from the previously announced 4,000,000 share
offering because of investor demand.
The joint book-running managers for this offering are UBS
Investment Bank, Citi and Morgan Stanley. The co-lead managers for
this offering are Wachovia Securities and RBC Capital Markets. The
co-managers for this offering are Robert W. Baird & Co., Janney
Montgomery Scott LLC, Morgan Keegan & Company, Inc. and
Oppenheimer & Co.
This press release is not 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. Copies of the prospectus supplement and related
prospectus may be obtained from the offices of UBS Investment Bank,
Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171
(telephone: 888-827-7275), the offices of Citi, Attn: Prospectus
Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor,
Brooklyn, NY 11220 (telephone: 718-765-6732), the offices of Morgan
Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014 (email: prospectus@morganstanley.com) or
by contacting any of the other managing underwriters.
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.
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