NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced that it has
priced a public offering of 11,000,000 common shares at a price to the
public of $30.75 per common share. The settlement of this offering is
expected to occur on August 19, 2016. HPT expects to use the proceeds of
this offering to repay amounts outstanding under its unsecured revolving
credit facility and for general business purposes. The underwriters have
been 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. The joint lead managers for this
offering are Jefferies, RBC Capital Markets and UBS Investment Bank. The
co-managers of this offering are Baird, BB&T Capital Markets, Cannacord
Genuity, Cantor Fitzgerald & Co., D.A. Davidson & Co., FBR, Janney
Montgomery Scott, JMP Securities 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. The prospectus supplement relating
to this offering and related prospectus will 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:
-
THIS PRESS RELEASE STATES THAT THE COMPANY EXPECTS THE SETTLEMENT OF
THE COMMON SHARES TO OCCUR ON AUGUST 19, 2016. IN FACT, THE ISSUANCE
AND DELIVERY OF THE COMMON SHARES 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.
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THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN 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 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 Nasdaq.
No shareholder, Trustee or officer is personally liable for any act
or obligation of the Trust.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160815006237/en/
Source: Hospitality Properties Trust