Senior Housing Properties Trust Prices Offering of 12,000,000 Common Shares
July 10 2012 - 9:00AM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced that
it priced a public offering of 12,000,000 common shares at a price
to the public of $21.75 per share. The settlement of this offering
is expected to occur on Friday, July 13, 2012. SNH expects to use
the net proceeds of this offering to repay amounts outstanding
under its revolving credit facility. The underwriters have been
granted a 30-day option to purchase up to an additional 1,800,000
common shares.
The joint book-running managers for this offering are Jefferies
& Company, Inc., Citigroup and UBS Investment Bank. The co-lead
managers for this offering are BofA Merrill Lynch, Morgan Stanley,
RBC Capital Markets and Wells Fargo Securities. The co-managers for
this offering are Janney Montgomery Scott LLC, JMP Securities and
Sandler O’Neill & Partners, L.P.
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, Citigroup, Prospectus Department, Brooklyn Army Terminal,
140 58th Street, 8th floor, Brooklyn, NY 11220, telephone: (800)
831-9146 or UBS Investment Bank, Attn: Prospectus Dept., 299 Park
Avenue, New York, NY 10171, telephone: (888) 827-7275.
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
FRIDAY, JULY 13, 2012. 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 1,800,000 COMMON SHARES. 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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