15.08.2013 14:48:58

Medical Properties Trust Prices Public Offering Of 10 Mln Shares At $12.75/shr

(RTTNews) - Medical Properties Trust Inc. (MPW) announced that it has priced its underwritten public offering of 10.00 million shares of common stock at a public offering price of $12.75 per share.

The company has granted the underwriters a 30-day option to purchase up to an additional 1.50 million shares of its common stock. The offering is expected to close on or about August 20, 2013, subject to customary closing conditions.

The company estimates that the net proceeds from the offering, after deducting discounts and commissions and estimated offering expenses, will be approximately $122.0 million or approximately $140.4 million if the underwriters' option to purchase additional shares is exercised in full.

The company stated that it intends to use the net proceeds from the offering to fund a portion of the consideration for its previously announced acquisition of three general acute care hospitals from IASIS Healthcare LLC.

Pending closing of the acquisition, the company intends to use the net proceeds of the offering to repay amounts outstanding under its revolving credit facility and to invest in short-term, liquid investments. If the acquisition is not completed, the company intends to use the net proceeds from the offering to repay borrowings under its revolving credit facility and for general corporate purposes, which may include investing in additional healthcare properties. The offering is not contingent upon the closing of the acquisition.

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Medical Properties Trust Inc 3,74 -0,04% Medical Properties Trust Inc