Medical Properties Trust (MPW) Prices Upsized 11M Offering
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Price: $14.72 --0%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 5.4%
EPS Growth %: +31.6%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 5.4%
EPS Growth %: +31.6%
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Medical Properties Trust, Inc. (NYSE: MPW) announced today that it has priced its underwritten public offering of 11,000,000 shares of common stock (the “Offering”) at $14.25 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock.
The offering is up from the original proposal of 9 million shares.
The Company estimates that the net proceeds from the Offering, after underwriting discounts and commissions and estimated offering expenses, will be approximately $150.3 million or approximately $172.9 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 repay borrowings under its revolving credit facility and for general corporate purposes, including investing in additional healthcare properties.
BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, KeyBanc Capital Markets, and RBC Capital Markets acted as joint book running managers for the Offering; SunTrust Robinson Humphrey acted as lead manager; and Raymond James and JMP Securities LLC acted as co-managers.
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The offering is up from the original proposal of 9 million shares.
The Company estimates that the net proceeds from the Offering, after underwriting discounts and commissions and estimated offering expenses, will be approximately $150.3 million or approximately $172.9 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 repay borrowings under its revolving credit facility and for general corporate purposes, including investing in additional healthcare properties.
BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, KeyBanc Capital Markets, and RBC Capital Markets acted as joint book running managers for the Offering; SunTrust Robinson Humphrey acted as lead manager; and Raymond James and JMP Securities LLC acted as co-managers.
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Deutsche Bank, JPMorgan, KeyBanc, Raymond James, Merrill Lynch, Bank of America, RBC Capital, JMP Securities, SunTrust Robinson Humphrey
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