EPR Properties (NYSE:EPR) announced today that it has commenced an
underwritten public offering of 3,200,000 of its common shares of
beneficial interest. The Company also expects to grant the underwriters
a 30-day option to purchase up to an additional 480,000 common shares.
The Company intends to use the net proceeds from the offering to reduce
the outstanding principal balance of its unsecured revolving credit
facility. Such application of the net proceeds will increase the amounts
available under the Company's unsecured revolving credit facility, which
the Company intends to use primarily to fund its ongoing pipeline of
acquisition and build-to-suit projects.
J.P. Morgan, BofA Merrill Lynch, and RBC Capital Markets are acting as
joint book running managers for the offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be a sale of these
securities in any state or other 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.
The offering is being made by means of a prospectus supplement and the
accompanying prospectus only. Copies of the prospectus supplement and
accompanying prospectus, when available, may be obtained by contacting
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204; BofA Merrill Lynch, 222 Broadway, New York, New York 10038,
Attention: Prospectus Department, or by e-mail at dg.prospectus_requests@baml.com;
or RBC Capital Markets, LLC, 3 World Financial Center, 200 Vesey Street,
8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate, by
calling (877) 822-4089, or by e-mail at equityprospectus@rbccm.com.
About EPR Properties
EPR Properties is a specialty real estate investment trust (REIT) that
invests in properties in select market segments which require unique
industry knowledge, while offering the potential for stable and
attractive returns. Our total investments exceed $3.8 billion and our
primary investment segments are Entertainment, Recreation and Education.
We adhere to rigorous underwriting and investing criteria centered on
key industry and property level cash flow standards. We believe our
focused niche approach provides a competitive advantage, and the
potential for higher growth and better yields.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
With the exception of historical information, certain statements
contained or incorporated by reference herein may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the “Securities Act”), and Section
21E of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), such as those pertaining to our acquisition or disposition of
properties, our capital resources, future expenditures for development
projects, and our results of operations and financial condition.
Forward-looking statements involve numerous risks and uncertainties and
you should not rely on them as predictions of actual events. There is no
assurance the events or circumstances reflected in the forward-looking
statements will occur. You can identify forward-looking statements by
use of words such as “will be,” “intend,” “continue,” “believe,” “may,”
“expect,” “hope,” “anticipate,” “goal,” “forecast,” “pipeline,”
“anticipates,” “estimates,” “offers,” “plans,” “would” or other similar
expressions or other comparable terms or discussions of strategy, plans
or intentions contained or incorporated by reference herein.
Forward-looking statements necessarily are dependent on assumptions,
data or methods that may be incorrect or imprecise. These
forward-looking statements represent our intentions, plans, expectations
and beliefs and are subject to numerous assumptions, risks and
uncertainties. Many of the factors that will determine these items are
beyond our ability to control or predict. For further discussion of
these factors see “Item 1A. Risk Factors” in our most recent Annual
Report on Form 10-K and, to the extent applicable, our Quarterly Reports
on Form 10-Q.
For these statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. You are cautioned not to place undue
reliance on our forward-looking statements, which speak only as of the
date hereof or the date of any document incorporated by reference
herein. All subsequent written and oral forward-looking statements
attributable to us or any person acting on our behalf are expressly
qualified in their entirety by the cautionary statements contained or
referred to in this section. We do not undertake any obligation to
release publicly any revisions to our forward-looking statements to
reflect events or circumstances after the date hereof.
Copyright Business Wire 2014