BIRMINGHAM, Ala.--(BUSINESS WIRE)--Sep. 27, 2016--
Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW)
announced today that it has priced its underwritten public offering of
50,000,000 shares of its common stock, upsized from 33,500,000 shares of
common stock, at a public offering price of $14.50 per share. The
Company has granted the underwriters a 30-day option to purchase up to
an additional 7,500,000 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 $695.1 million, or approximately $799.5 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
partially fund its previously announced acquisition of a portfolio of
assets from Steward Health Care System LLC (“Steward”) as well as a
portion of its previously announced acquisition of assets from
affiliates of Median Kliniken S.à.r.l. (“MEDIAN”). The offering is not
conditioned upon the successful completion of the Steward or MEDIAN
acquisitions. Pending closing of the Steward and MEDIAN acquisitions,
the Company intends to invest the net proceeds of this offering in
short-term interest-bearing securities.
BofA Merrill Lynch, Barclays, Credit Agricole CIB, Goldman, Sachs & Co.,
J.P. Morgan, KeyBanc Capital Markets, RBC Capital Markets and Wells
Fargo Securities acted as joint book running managers for the offering;
BBVA, SunTrust Robinson Humphrey, Credit Suisse, Deutsche Bank
Securities, MUFG and Stifel acted as co-lead managers.
The offering is expected to close on September 30, 2016, 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 BofA Merrill Lynch, Attention: Prospectus Department, 200 North
College Street, 3rd Floor, NC1-004-03-43, Charlotte, NC
28255-0001 or by email at dg.prospectus_requests@baml.com,
or from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by phone at 1 (888) 603-5847 or by email at barclaysprospectus@broadridge.com,
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 Steward and MEDIAN acquisition and
related transactions; Steward’s and MEDIAN’s expected rent coverage; the
capacity of Steward, MEDIAN 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 or
equity arrangements, 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, 2015
and “Item 1.A Risk Factors” in our quarterly report on Form 10-Q for the
quarter ended June 30, 2016. 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/20160927006003/en/
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Tim Berryman, 205-397-8589
Director
– Investor Relations
tberryman@medicalpropertiestrust.com