American Homes 4 Rent Announces Public Offering of 5% Series A Participating
AGOURA HILLS, Calif., Oct. 8, 2013
AGOURA HILLS, Calif., Oct. 8, 2013 /PRNewswire/ --American Homes 4 Rent
(NYSE: AMH) (the "Company") today announced that the Company has commenced an
underwritten public offering of its 5% Series A Participating Preferred
Shares. Investors in the Series A Participating Preferred Shares may also
potentially benefit from home price appreciation in the Company's top 20
markets by participating in home price gains as determined by the Federal
Housing Finance Agency's House Price Index, subject to certain limitations and
payable upon certain defined realization events in each case described in the
prospectus for the securities. In addition, the Company will grant the
underwriters a 30-day option to purchase up to an additional 15% of the Series
A Participating Preferred Shares. The Company intends to apply to list the
Series A Participating Preferred Shares on the New York Stock Exchange under
the symbol "AMHPRA."
The Company intends to distribute the net proceeds of the offering to its
operating partnership. The operating partnership intends to use the net
proceeds of the offering to continue to acquire and renovate single-family
properties, to repay borrowings under its credit facility and for general
Raymond James and Jefferies are the joint book-running managers for the
offering. Hogan Lovells US LLP is serving as legal counsel for the Company.
Latham & Watkins LLP is serving as legal counsel to the underwriters.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted before the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful before registration or
qualification thereof under the securities laws of any such state or
The offering is being made only by means of a prospectus. Copies of the
preliminary prospectus relating to the offering and the final prospectus, when
available, may be obtained from Raymond James & Associates, Inc., 880 Carillon
Parkway, St. Petersburg, Florida 33716, or by calling toll-free at
1-800-248-8863, or by emailing firstname.lastname@example.org; or from Jefferies
LLC, Attention: Debt Syndicate Prospectus Department, 520 Madison Avenue, 12th
floor, New York, NY 10022, or by calling toll-free at 1-877-547-6340 or by
This press release contains "forward-looking statements." These
forward-looking statements relate to beliefs, expectations or intentions and
similar statements concerning matters that are not of historical fact and are
generally accompanied by words such as "estimate," "project," "predict,"
"believe," "expect," "anticipate," "intend," "anticipate," "potential,"
"plan," "goal" or other words that convey the uncertainty of future events or
outcomes. These forward-looking statements may include, but are not limited
to, the Company's ability to complete the offering and the intended use of the
net proceeds. The Company has based these forward-looking statements on its
current expectations and assumptions about future events. While the Company's
management considers these expectations to be reasonable, they are inherently
subject to risks, contingencies and uncertainties, most of which are difficult
to predict and many of which are beyond the Company's control. Investors
should not place undue reliance on these forward-looking statements.
 Top 20 markets used to determine percentage weightings have been
determined by current AMH holdings as of July 31, 2013. The Federal Housing
Finance Agency's Quarterly Purchase-only Home Price Index is a weighted,
repeat-sales index, meaning that it measures average price changes in repeat
sales of the same single-family properties, and is obtained by reviewing
repeat transactions involving conforming, conventional mortgages purchased or
securitized by Fannie Mae or Freddie Mac since January 1975.
Contact: Peter J. Nelson
American Homes 4 Rent
Tel: (310) 774-5394
SOURCE American Homes 4 Rent
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