BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 15, 2013--
Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) announced
today that it has priced its underwritten public offering of 10,000,000
shares of common stock at a public offering price of $12.75 per share.
The Company has granted the underwriters a 30-day option to purchase up
to an additional 1,500,000 shares of its common stock. The offering is
expected to close on or about August 20, 2013, subject to customary
closing conditions.
The Company estimates that the net proceeds from the offering, after
deducting discounts and commissions and estimated offering expenses,
will be approximately $122.0 million or approximately $140.4 million if
the underwriters’ option to purchase additional shares is exercised in
full.
The Company intends to use the net proceeds from the offering to fund a
portion of the consideration for its previously announced acquisition of
three general acute care hospitals from IASIS Healthcare LLC. Pending
closing of the acquisition, the Company intends to use the net proceeds
of the offering to repay amounts outstanding under its revolving credit
facility and to invest in short-term, liquid investments. If the
acquisition is not completed, the Company intends to use the net
proceeds from the offering to repay borrowings under its revolving
credit facility and for general corporate purposes, which may include
investing in additional healthcare properties. The offering is not
contingent upon the closing of the acquisition.
BofA Merrill Lynch, J.P. Morgan, Deutsche Bank Securities, KeyBanc
Capital Markets and RBC Capital Markets acted as joint book-running
managers for the offering; SunTrust Robinson Humphrey acted as lead
manager; and BBVA and Raymond James acted as co-managers.
All of the shares of common stock will be issued under the Company’s
effective shelf registration statement on Form S-3 filed with the
Securities and Exchange Commission ("SEC"). A prospectus and preliminary
prospectus supplement relating to this offering have been filed with the
SEC and are available on the SEC’s website at http://www.sec.gov.
Copies of the prospectus and final prospectus supplement relating to
these securities may be obtained, when available, from BofA Merrill
Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or
by e-mail at dg.prospectus_requests@baml.com or
from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling
1-866-803-9204 or by visiting the EDGAR database on the SEC’s web site
at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any shares of the Company’s common
stock, nor shall there be any sale of these securities in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama based
self-advised real estate investment trust formed to capitalize on the
changing trends in healthcare delivery by acquiring and developing
net-leased healthcare facilities. These facilities include inpatient
rehabilitation hospitals, long-term acute care hospitals, regional acute
care hospitals, ambulatory surgery centers and other single-discipline
healthcare facilities.
The statements in this press release that are forward looking are
based on current expectations and actual results or future events may
differ materially. Words such as "expects," "believes," "anticipates,"
"intends," "will," "should" and variations of such words and similar
expressions are intended to identify such forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results of the
Company or future events to differ materially from those expressed in or
underlying such forward-looking statements, including without
limitation, the Company’s ability to consummate this offering and the
use of the proceeds therefrom. For further discussion of the factors
that could affect outcomes, please refer to the “A Warning About Forward
Looking Statements” and "Risk Factors" sections of the Company's Annual
Report on Form 10-K for the year ended December 31, 2012 and our other
SEC filings and the “Risk Factors” sections contained in the prospectus
and related prospectus supplement. Except as otherwise required by the
federal securities laws, the Company undertakes no obligation to update
the information in this press release.
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Charles Lambert, 205-397-8897
Managing
Director – Capital Markets
clambert@medicalpropertiestrust.com