Medical Properties Trust (MPW) Prices 32M Share Common Offering at $20.05/Sh

Medical Properties Trust, Inc. (NYSE: MPW) announced today that it has priced an underwritten public offering of 32,000,000 shares of its common stock at a public offering price of $20.05 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 4,800,000 shares of its common stock. The Company estimates that the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $618.1 million, or approximately $711.0 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 in part the previously announced transactions related to the acquisition of a portfolio of behavioral healthcare real estate assets located throughout the United Kingdom currently owned and operated by the Priory Group (“Priory”), a leading private provider of behavioral care in the United Kingdom, as well as the related costs and expenses of the transactions. The offering is not conditioned upon the successful completion of the Priory acquisition. The Company intends to use any remaining balance of the net proceeds from the offering (or if the Priory acquisition is not completed) for general corporate purposes, which may include repaying indebtedness (including amounts outstanding from time to time under its revolving credit facility and/or term loan facilities), working capital and capital expenditures, and potential future acquisitions.

Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, Barclays, KeyBanc Capital Markets, Credit Agricole CIB, Credit Suisse, MUFG, RBC Capital Markets, Stifel, Truist Securities and Wells Fargo Securities acted as joint book running managers for the offering, and BNP Paribas, Mizuho Securities and Scotiabank acted as co-managers for the offering. The offering is expected to close on January 11, 2021, 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 (the “SEC”). The offering is being made only by means of a prospectus supplement and accompanying prospectus.

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