Campus Crest Communities, Inc. Announces Exercise of Underwriters’ Option and Subsequent Closing of Common Stock Offering

  Campus Crest Communities, Inc. Announces Exercise of Underwriters’ Option
  and Subsequent Closing of Common Stock Offering

Business Wire

CHARLOTTE, N.C. -- March 6, 2013

Campus Crest Communities, Inc. (NYSE:CCG) (“CCG”) today announced it closed
its previously announced underwritten public offering of 25,530,000 shares of
its common stock, including 3,330,000 shares issued and sold pursuant to the
full exercise of the underwriters’ option to purchase additional shares. The
shares were issued at a public offering price of $12.25 per share, for net
proceeds of approximately $299.9 million, after deducting the underwriting
discount and other net estimated offering costs.

CCG intends to use the net proceeds from this offering to fund the investment
in the Copper Beech Townhome Communities’ portfolio and related transactional
costs. Any remaining net proceeds will be used for general corporate purposes,
including the repayment of debt. Raymond James, Barclays, Citigroup, BofA
Merrill Lynch and RBC Capital Markets served as joint book-running managers
for the offering. Baird and MLV & Co served as co-managers for the offering.

A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy any of
these securities, nor shall there be any 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
such state or other jurisdiction.

Copies of the preliminary prospectus supplement, final prospectus supplement
and the related base prospectus may be obtained by contacting: (a) Raymond
James, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling
toll-free at 1-800-248-8863, or emailing prospectus@raymondjames.com; or (b)
Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by calling 1-888-603-5847 or emailing
barclaysprospectus@broadridge.com; or (c) or the Internet site of the
Securities and Exchange Commission at http://www.sec.gov.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and
manager of high-quality, residence life focused student housing properties
located close to college campuses in targeted U.S. markets. CCG is a
self-managed, self-administered and vertically-integrated real estate
investment trust which operates all of its properties under The Grove® brand.
CCG owns interests in 39 operating student housing properties containing
approximately 20,884 beds. CCG plans to deliver six projects containing
approximately 3,564 beds in the third quarter of 2013. Additionally, CCG is
developing a 33-story student housing tower in Philadelphia, PA containing
approximately 850 beds for delivery in the third quarter of 2014. Since its
inception, CCG has focused on customer service, privacy, on-site amenities and
its proprietary residence life programs to provide college students across the
United States with a higher quality of living.

Forward-Looking Statements

This press release, together with other statements and information publicly
disseminated by CCG, contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. CCG intends such
forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements contained in the Private Securities Litigation
Reform Act of 1995 and includes this statement for purposes of complying with
these safe harbor provisions. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by the use of forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts” or “potential” or the negative of these words and phrases or
similar words or phrases which are predictions of or indicate future events or
trends and which do not relate solely to historical matters. You should not
rely on forward-looking statements since they involve known and unknown risks,
uncertainties, assumptions and contingencies, many of which are beyond CCG’s
control that may cause actual results to differ significantly from those
expressed in any forward-looking statement, including risks and uncertainties
related to the proposed transaction (including but not limited to (i) the
occurrence of any effect, event, development, or change that could give rise
to the termination of the purchase and sale agreement, (ii) the failure to
complete the proposed transaction, and (iii) the failure of any party to
satisfy the conditions to the closing of the transaction. All forward-looking
statements reflect CCG’s good faith beliefs, assumptions and expectations, but
they are not guarantees of future performance. Furthermore, except as
otherwise required by federal securities laws, CCG disclaims any obligation to
publicly update or revise any forward-looking statement to reflect changes in
underlying assumptions or factors, new information, data or methods, future
events or other changes. For a further discussion of these and other factors
that could cause CCG’s future results to differ materially from any
forward-looking statements, see the risk factors discussed in CCG’s most
recent Annual Report on Form 10-K and in the prospectus supplement relating to
the offering referred to in this press release.

Contact:

Campus Crest Communities, Inc.
Thomas Nielsen, 704-496-2571
Investor.Relations@CampusCrest.com
 
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