NEWTON, Mass.--(BUSINESS WIRE)--
Senior Housing Properties Trust (NYSE: SNH) today announced that it has
priced a public offering of 12,500,000 common shares of beneficial
interest at a price of $20.50 per share. The settlement of this offering
is expected to occur on Wednesday, December 15, 2010. 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 1,875,000 shares to cover
over-allotments, if any.
The joint book-running managers for this offering are Jefferies &
Company, Inc., BofA Merrill Lynch and Morgan Stanley. The co-lead
managers for this offering are Citi, Morgan Keegan, RBC Capital Markets,
UBS Investment Bank and Wells Fargo Securities. The co-managers for this
offering are BB&T Capital Markets, Janney Montgomery Scott 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. Copies of the prospectus supplement
and related prospectus may be obtained by contacting the offices of
Jefferies & Company, Inc., Attn: Equity Syndicate Prospectus Department,
520 Madison Avenue, 12th Floor, New York, NY, 10022 at (877) 547-6340 or
Prospectus_Department@Jefferies.com; BofA Merrill Lynch, 4 World
Financial Center, New York, NY 10080, Attn: Prospectus Department at
dg.prospectus_requests@baml.com; and Morgan Stanley & Co. Incorporated,
180 Varick St., 2nd Floor, New York, NY 10014 at (866)
718-1649 or Attention: Prospectus Department at
prospectus@morganstanley.com, or by contacting any of the other managing
underwriters.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE
FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS AND THEIR
IMPLICATIONS ARE BASED UPON SNH'S PRESENT BELIEFS AND EXPECTATIONS, BUT
THESE FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR FOR VARIOUS REASONS. FOR EXAMPLE:
-
THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE OFFERING OF
COMMON SHARES IS EXPECTED TO OCCUR ON DECEMBER 15, 2010. 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 OCCUR, THIS OFFERING MAY NOT CLOSE.
-
THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN
OPTION TO PURCHASE UP TO AN ADDITIONAL 1,875,000 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.
Senior Housing Properties Trust
Timothy A. Bonang, 617-796-8234
Vice
President, Investor Relations
or
Elisabeth A. Heiss,
617-796-8234
Manager, Investor Relations
Source: Senior Housing Properties Trust
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