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Campus Crest Communities, Inc. Announces Partial Exercise of Underwriters’ Option and Subsequent Closing of 8.00% Series A



  Campus Crest Communities, Inc. Announces Partial Exercise of Underwriters’
  Option and Subsequent Closing of 8.00% Series A Cumulative Redeemable
  Preferred Stock

Business Wire

CHARLOTTE, N.C. -- October 9, 2013

Campus Crest Communities, Inc. (NYSE:CCG) (the “Company”) today announced it
closed its previously announced underwritten public offering, a reopening of
3,800,000 shares of its 8.00% Series A Cumulative Redeemable Preferred Stock
(the “Series A Preferred Stock”), including 400,000 shares issued and sold
pursuant to the partial exercise of the underwriters’ option to purchase
additional shares of the Series A Preferred Stock.

The shares of Series A Preferred Stock were issued at a public offering price
of $25.0611 per share, for net proceeds of approximately $91.7 million, after
deducting the underwriting discount and other estimated offering expenses. The
Company intends to use the net proceeds from the offering for the repayment of
debt, future development or for other general corporate and working capital
purposes.

BofA Merrill Lynch, Raymond James, Barclays, Citigroup and RBC Capital Markets
are serving as joint book-running managers for the offering. Baird, MLV & Co.
LLC, BBVA, Capital One Securities, and PNC Capital Markets LLC are serving as
co-managers.

An automatic shelf registration statement relating to these securities has
been filed with 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 final prospectus supplement and base prospectus relating to
these securities may be obtained by contacting: (a) Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Attention: Prospectus Department, 222 Broadway,
New York, NY 10038, Email: dg.prospectus_requests@baml.com; (b) Raymond James
& Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, or by
calling toll-free at 1-800-248-8863, or emailing prospectus@raymondjames.com;
(c) Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by calling toll-free (888) 603-5847 or
emailing Barclaysprospectus@broadridge.com; (d) Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Tel:
800-831-9146 or e-mail batprospectusdept@citi.com; or (e) RBC Capital Markets,
LLC, Attention: Syndicate Operations Department, Three World Financial Center,
200 Vesey Street 8th Floor, New York, New York 10281, or by calling toll free
1-866-375-6829, or emailing rbcnyfixedincomeprospectus@rbccm.com.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and
manager of high-quality student housing properties located close to college
campuses in targeted markets. It has ownership interests in 80 student housing
properties and ~43,000 beds across North America, of which 73 are operating
and 7 are development or redevelopment properties. The Company is an equity
REIT that differentiates itself through its vertical integration and
consistent branding across the portfolio through three unique brands targeting
different segments of the college student population. The Grove® brand offers
more traditional apartment floor plans and focuses on customer service,
privacy, on-site amenities and a proprietary residence life program. The
Copper Beech brand and townhome product offers more residential-type living to
students looking for a larger floor plan with a front door and back porch.

Forward-Looking Statements

This press release, together with other statements and information publicly
disseminated by the Company, 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. The
Company 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 the Company's control, that may cause actual results to
differ significantly from those expressed in any forward-looking statement.
All forward-looking statements reflect the Company's good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance. Furthermore, except as otherwise required by federal securities
laws, the Company 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 the Company's
future results to differ materially from any forward-looking statements, see
the risk factors discussed in the Company's most recent Annual Report on Form
10-K, as updated in the Company’s Quarterly Reports on Form 10-Q.

Contact:

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