Medical Properties Trust (MPW) Prices Larger 50M Common Stock Offering at $14.50/Share
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Medical Properties Trust, Inc. (NYSE: MPW) announced 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 firstname.lastname@example.org, 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 email@example.com, or by visiting the EDGAR database on the SEC’s web site at www.sec.gov.
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Related EntitiesCredit Suisse, Stifel, Deutsche Bank, JPMorgan, KeyBanc, Merrill Lynch, Bank of America, RBC Capital, SunTrust Robinson Humphrey, Barclays, Dividend, Credit Agricole, Wells Fargo, Definitive Agreement
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