Senior Housing Properties Trust Prices Offering of 8,000,000 Common Shares
October 12 2011 - 8:00PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it priced a public offering of 8,000,000 common shares at a price
to the public of $21.00 per share. The settlement of this offering
is expected to occur on Tuesday, October 18, 2011. SNH expects to
use the proceeds of this offering to repay amounts outstanding
under its revolving credit facility and for general business
purposes, including funding acquisitions. The underwriters have
been granted a 30-day option to purchase up to an additional
1,200,000 common shares to cover over-allotments, if any.
The joint book-running managers for this offering are Jefferies
& Company, Inc., BofA Merrill Lynch and Citigroup. The co-lead
managers for this offering are Morgan Keegan, Morgan Stanley, RBC
Capital Markets, UBS Investment Bank and Wells Fargo Securities.
The co-managers for this offering are BB&T Capital Markets,
Janney Montgomery Scott LLC, 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 are expected to be filed with the Securities
and Exchange Commission (SEC) and copies can be obtained by
contacting the offices of: Jefferies & Company, Inc., 520
Madison Avenue, 12th floor, New York, NY 10022, telephone: (877)
547-6340, BofA Merrill Lynch, 4 World Financial Center, New York NY
10080, Attn: Prospectus Department or email
dg.prospectus_requests@baml.com, or Citigroup, Prospectus
Department, Brooklyn Army Terminal, 140 58th Street, 8th floor,
Brooklyn, NY 11220, telephone: (800) 831-9146.
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 SNH’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
SETTLEMENT OF THE OFFERING OF COMMON SHARES IS EXPECTED TO OCCUR ON
TUESDAY, OCTOBER 18, 2011. IN FACT, THE SETTLEMENT OF THIS OFFERING
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 1,200,000 COMMON SHARES TO COVER OVER-ALLOTMENTS, IF
ANY. AN IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY
BE EXERCISED IN WHOLE OR IN PART. IN FACT, SNH 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 New York
Stock Exchange.No shareholder, Trustee or officer is personally
liable for any act or obligation of the Trust.
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