Medical Properties Trust Prices Stock Offering

(RTTNews) - Medical Properties Trust, Inc. (MPW) said Thursday that it has priced its public offering of 8.3 million shares of its common stock, consisting of 7.7 million shares offered by the company and 600,000 shares offered by Edward K. Aldag, Jr., the company's Chairman, President and Chief Executive Officer, as a selling stockholder.

The closing price per share of the company's common stock on the New York Stock Exchange on March 5 was $13.62.

The company has granted the underwriters a 30-day option to purchase up to an additional 1.245 million shares of its common stock.

The offering is expected to close on March 11.

The company plans to use the net proceeds it receives from the offering to fund, in part, one or more acquisition and development deals relating to acute care hospital facilities in the United States, with an aggregate investment value of up to $500 million.

The company is currently in advanced negotiations for those potential deals and expects to consummate all or some of them during the first half of 2014, and some as soon as during the first quarter of 2014.

Pending consummation of all or some of those potential deals, the company plans to use the net proceeds it receives from the offering to repay borrowings under its revolving credit facility and for general corporate purposes.