IRVINE, Calif., Nov. 4, 2019 /PRNewswire/ -- Healthpeak
Properties, Inc. (NYSE: HCP, to become "PEAK"
effective November 5, 2019) ("Healthpeak") announced today
that it has commenced a public offering of an aggregate of
15,000,000 shares of its common stock in connection with the
forward sale agreement described below. The underwriters are
expected to be granted a 30-day option to purchase up to an
additional 2,250,000 shares of Healthpeak's common stock.
BofA Securities and Morgan Stanley are acting as joint
book-runners for this offering.
Healthpeak expects to enter into a forward sale agreement with
an affiliate of BofA Securities (the "forward purchaser"). The
forward purchaser (or its affiliate) is expected to borrow from
third parties, and sell to the underwriters, the 15,000,000 shares
of Healthpeak's common stock (or an aggregate of 17,250,000 shares
if the underwriters exercise their option to purchase additional
shares in full) in the offering.
Healthpeak has agreed to issue and deliver, upon physical
settlement of such forward sale agreement on one or more dates
specified by Healthpeak within 12 months of entry into the forward
sale agreement, up to 15,000,000 shares of Healthpeak's common
stock (or an aggregate of 17,250,000 shares if the underwriters
exercise their option to purchase additional shares in full) to the
forward purchaser. In exchange for the shares, Healthpeak will
receive cash proceeds per share equal to the applicable forward
sale price per share, subject to certain adjustments as provided in
the forward sale agreement.
Healthpeak intends to use the net proceeds, if any, received
upon settlement of the forward sale agreement to fund potential
acquisitions, developments, redevelopments and other investment
opportunities. We may also use the net proceeds for general
corporate purposes, including to repay indebtedness.
This offering is being made pursuant to an effective shelf
registration statement and prospectus and a related preliminary
prospectus supplement filed by Healthpeak with the Securities and
Exchange Commission. This press release shall not constitute
an offer to sell or the solicitation of any offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
Copies of the prospectus supplement and related prospectuses for
this offering can be obtained from BofA Securities, NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte NC 28255-0001,
Attn: Prospectus Department, Email:
dg.prospectus_requests@baml.com, or from Morgan Stanley, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
About Healthpeak Properties
Healthpeak Properties, Inc. is a fully integrated real estate
investment trust (REIT) and S&P 500 company. Healthpeak owns
and develops high-quality real estate in the three private-pay
healthcare asset classes of Life Science, Senior Housing and
Medical Office, designed to provide stability through the
inevitable industry cycles. At Healthpeak, we pair our deep
understanding of the healthcare real estate market with a strong
vision for long-term growth. Healthpeak's common stock is expected
to begin trading under its new name and ticker symbol "PEAK" on the
New York Stock Exchange on November 5, 2019.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "believe," "expect," "intend," "will," "project,"
"anticipate," "position," and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. These risks include, but
are not limited to the risk that we may not complete any potential
acquisition, disposition or other investment activities in a timely
fashion or at all, the risk we may not complete this offering in a
timely fashion or at all, and those risks and uncertainties
associated with Healthpeak's business described in its Annual
Report on Form 10-K for the fiscal year ended December 31, 2018 and its subsequent filings with
the Securities and Exchange Commission. Although Healthpeak
believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, Healthpeak can
give no assurance that the expectations will be attained or that
any deviation will not be material. All information in this
release is as of the date of this release, and Healthpeak
undertakes no obligation to update any forward-looking statement to
conform the statement to actual results or changes in its
expectations, except as required by law.
Contact
Barbat Rodgers
Senior Director – Investor Relations
(949) 407-0400
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SOURCE Healthpeak Properties, Inc.