NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced that it has
commenced a public offering of 11,000,000 common shares. HPT expects to
use the proceeds of this offering to repay amounts outstanding under its
unsecured revolving credit facility and for general business purposes.
It is contemplated that the underwriters will also be granted a 30-day
option to purchase up to an additional 1,650,000 common shares.
The joint bookrunning managers for this offering are Citigroup, BofA
Merrill Lynch and Morgan Stanley.
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, NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, NC 28255-0001, 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 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
HPT’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE FORWARD LOOKING
STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
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ALTHOUGH THIS PRESS RELEASE REFERS TO AN OFFERING OF 11,000,000 COMMON
SHARES, GREATER OR LESS THAN 11,000,000 COMMON SHARES MAY BE SOLD OR
THIS OFFERING MAY BE WITHDRAWN.
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IF HPT 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.
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THIS PRESS RELEASE STATES THAT HPT CONTEMPLATES THAT THE UNDERWRITERS
WILL BE GRANTED AN OPTION TO PURCHASE UP TO AN ADDITIONAL 1,650,000
COMMON SHARES. AN IMPLICATION OF THIS STATEMENT MAY BE THAT THIS
OPTION MAY BE EXERCISED IN WHOLE OR IN PART. IN FACT, HPT 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 Nasdaq.
No shareholder, Trustee or officer is personally liable for any act
or obligation of the Trust.
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Source: Hospitality Properties Trust