Senior Housing Properties Trust Announces Proposed Public Offering of 25,000,000 Common Shares
February 03 2015 - 4:05PM
Business Wire
Senior Housing Properties Trust (NYSE: SNH) today announced it
commenced a public offering of 25,000,000 common shares. SNH
expects to use the proceeds of this offering to repay amounts
outstanding on its revolving credit facility and for general
business purposes, including funding, in part, a pending
acquisition. It is contemplated that the underwriters will also be
granted a 30-day option to purchase up to an additional 3,750,000
common shares.
The joint bookrunning managers for this offering are Citigroup,
BofA Merrill Lynch and Morgan Stanley. The joint lead managers for
this offering are Jefferies and RBC Capital Markets.
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 preliminary 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: Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus
Department, 222 Broadway, New York, NY 10038, email:
dg.prospectus_requests@baml.com; or Morgan Stanley, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014.
WARNING CONCERNING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE CONTAINS 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
STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
- ALTHOUGH THIS PRESS RELEASE REFERS TO
AN OFFERING OF 25,000,000 COMMON SHARES, GREATER OR LESS THAN
25,000,000 COMMON SHARES MAY BE SOLD OR THIS OFFERING MAY BE
WITHDRAWN.
- IF SNH AGREES TO SELL COMMON SHARES IN
THE OFFERING, THE CLOSING OF THE OFFERING WILL BE 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, THE
SALE OF THE SHARES MAY NOT CLOSE.
- THIS PRESS RELEASE STATES THAT SNH
CONTEMPLATES THAT THE UNDERWRITERS WILL BE GRANTED AN OPTION TO
PURCHASE UP TO AN ADDITIONAL 3,750,000 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 WOULD 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.
Senior Housing Properties TrustKimberly M. Brown,
617-796-8234Director, Investor Relations
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