Omega Healthcare Investors, Inc. (NYSE:OHI) today announced an
underwritten public offering of shares of its common stock with an
aggregate offering price of $75,000,000. Omega has granted the
underwriter a 30-day option to purchase additional shares with an
aggregate offering price of up to $11,250,000. Omega expects to use the
proceeds for general corporate purposes, which may include funding the
previously announced pending sale/leaseback transaction for 56
facilities currently operated by Ark Holding Company, Inc. Completion of
the offering is subject to customary closing conditions.
Jefferies LLC will serve as the underwriter of the offering.
The shares of common stock are being offered under Omega's existing
shelf registration statement on file with the Securities and Exchange
Commission. A prospectus supplement and accompanying prospectus
describing the terms of the offering will be filed with the Securities
and Exchange Commission. When available, copies of the prospectus
supplement and the accompanying prospectus may be obtained from
Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 12th Floor, New York, New York 10022, e-mail: Prospectus_Department@Jefferies.com,
telephone: 877-547-6340. Alternatively, you may get these documents for
free by visiting EDGAR on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell, nor a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Omega is a real estate investment trust investing in and providing
financing to the long-term care industry. At June 30, 2013, Omega owned
or held mortgages on 477 skilled nursing facilities, assisted living
facilities and other specialty hospitals with approximately 55,075
licensed beds (52,890 available beds) located in 33 states and operated
by 47 third-party healthcare operating companies.
This announcement includes forward-looking statements. Actual results
may differ materially from those reflected in such forward-looking
statements as a result of a variety of factors, including, among other
things: (i) uncertainties relating to the business operations of the
operators of Omega's properties, including those relating to
reimbursement by third-party payors, regulatory matters and occupancy
levels; (ii) regulatory and other changes in the healthcare sector;
(iii) changes in the financial position of Omega's operators; (iv) the
ability of operators in bankruptcy to reject unexpired lease
obligations, modify the terms of Omega's mortgages, and impede the
ability of Omega to collect unpaid rent or interest during the pendency
of a bankruptcy proceeding and retain security deposits for the debtor's
obligations; (v) the availability and cost of capital; (vi) changes in
Omega’s credit ratings and the ratings of its debt securities; (vii)
competition in the financing of healthcare facilities; (viii) Omega's
ability to maintain its status as a real estate investment trust; and
(ix) other factors identified in Omega's filings with the Securities and
Exchange Commission. Statements regarding future events and developments
and Omega's future performance, as well as management's expectations,
beliefs, plans, estimates or projections relating to the future, are
forward-looking statements.
Copyright Business Wire 2013