Hospitality Properties Trust Prices Offering of 11,000,000 Common Shares
Hospitality Properties Trust (Nasdaq: HPT) today announced that it has priced a public offering of 11,000,000 common shares at a
price to the public of $30.75 per common share. The settlement of this offering is expected to occur on August 19, 2016. HPT
expects to use the proceeds of this offering to repay amounts outstanding under its unsecured revolving credit facility and for
general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 1,650,000 common
shares.
The joint bookrunning managers for this offering are Citigroup, BofA Merrill Lynch and Morgan Stanley. The joint lead managers
for this offering are Jefferies, RBC Capital Markets and UBS Investment Bank. The co-managers of this offering are Baird, BB&T
Capital Markets, Cannacord Genuity, Cantor Fitzgerald & Co., D.A. Davidson & Co., FBR, Janney Montgomery Scott, JMP
Securities and Oppenheimer & Co.
This press release is neither an offer to sell nor a solicitation of an offer to buy shares, nor shall there be any sale of
these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction. The prospectus supplement relating to this offering and
related prospectus will be filed with the Securities and Exchange Commission (SEC) and copies can be obtained by contacting the
offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146;
BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC
28255-0001, email: dg.prospectus_requests@baml.com; or Morgan
Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HPT’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE COMPANY EXPECTS THE SETTLEMENT OF THE COMMON SHARES TO OCCUR ON
AUGUST 19, 2016. IN FACT, THE ISSUANCE AND DELIVERY OF THE COMMON SHARES IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS
ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED
CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
- THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN OPTION TO PURCHASE UP TO AN
ADDITIONAL 1,650,000 COMMON SHARES. AN IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED IN WHOLE OR IN
PART. IN FACT, HPT DOES NOT KNOW WHETHER THE UNDERWRITERS WILL EXERCISE THIS OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the
Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Hospitality Properties Trust
Katie Strohacker, 617-796-8232
Senior Director, Investor Relations
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