BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 6, 2015--
Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW)
announced today that it has priced its underwritten public offering of
25,000,000 shares of common stock at a public offering price of $12.25
per share. The Company has granted the underwriters a 30-day option to
purchase up to an additional 3,750,000 shares of its common stock. The
Company estimates that the net proceeds from the offering, after
underwriting discounts and commissions and estimated offering expenses,
will be approximately $293,000,000, or approximately $337,100,000 if the
underwriters' option to purchase additional shares is exercised in full.
The Company intends to use the net proceeds from the offering to
partially fund its previously announced acquisition of Capella Holdings,
Inc. (“Capella”). The offering is not conditioned upon the successful
completion of the Capella acquisition. Pending closing of the Capella
acquisition, the Company intends to use the net proceeds of this
offering to reduce US dollar amounts outstanding under its revolving
credit facility and invest the balance in short-term interest-bearing
securities.
Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lynch, Barclays, Credit
Agricole CIB, Credit Suisse Securities (USA) LLC and KeyBanc Capital
Markets acted as joint book running managers for the offering; BBVA,
Stifel, RBC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo
Securities acted as co-lead managers.
The offering is expected to close on August 11, 2015, subject to
customary closing conditions. All of the shares of common stock will be
issued under the Company’s effective shelf registration statement
previously filed with the Securities and Exchange Commission (“SEC”).
The offering is being made only by means of a prospectus supplement and
accompanying prospectus. When available, copies of the final prospectus
supplement and the prospectus relating to the offering may be obtained
from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West
Street, New York, NY 10282, by phone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.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. MPT’s financing model allows hospitals
and other healthcare facilities to unlock the value of their underlying
real estate in order to fund facility improvements, technology upgrades,
staff additions and new construction. Facilities include acute care
hospitals, inpatient rehabilitation hospitals, long-term acute care
hospitals, and other medical and surgical facilities.
This press release includes “forward-looking statements” within the
meaning of securities laws of applicable jurisdictions. Forward-looking
statements can generally be identified by the use of forward-looking
words such as “may”, “will”, “would”, “could”, “expect”, “intend”,
“plan”, “aim”, “estimate”, “target”, “anticipate”, “believe”,
“continue”, “objectives”, “outlook”, “guidance” or other similar words,
and include statements regarding MPT’s plans, strategies, objectives,
targets, future expansion and development activities and expected
financial performance. 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 satisfaction of all conditions to, and the
timely closing (if at all), of the Capella acquisition and related
transactions; Capella’s expected rent coverage; the capacity of Capella
and the Company’s other tenants to meet the terms of their agreements;
expected payout ratio, the amount of acquisitions of healthcare real
estate, if any; capital markets conditions, the repayment of debt
arrangements; statements concerning the additional income to the Company
as a result of ownership interests in certain hospital operations and
the timing of such income; the payment of future dividends, if any;
completion of additional debt arrangement, and additional investments;
national and international economic, business, real estate and other
market conditions; the competitive environment in which the Company
operates; the execution of the Company's business plan; financing risks;
the Company's ability to maintain its status as a REIT for federal
income tax purposes; acquisition and development risks; potential
environmental and other liabilities; and other factors affecting the
real estate industry generally or healthcare real estate in particular;
and the value of our real estate assets, which may limit our ability to
dispose of assets at attractive prices or obtain or maintain equity or
debt financing secured by our properties or on an unsecured basis, and
the factors referenced under the section captioned “Item 1.A Risk
Factors” in our annual report on Form 10-K for the year ended December
31, 2014. Actual results, performance or achievements may vary
materially from any projections and forward looking statements and the
assumptions on which those statements are based. Readers are cautioned
not to place undue reliance on forward-looking statements, and MPT
disclaims any responsibility to update such information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150805006898/en/
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Tim Berryman, 205-397-8589
Director
– Investor Relations
tberryman@medicalpropertiestrust.com