EPR Properties Announces Pricing of Equity Offering
KANSAS CITY, Mo. -- October 18, 2013
EPR Properties (NYSE:EPR) announced today the pricing of its underwritten
public offering of 3,600,000 of its common shares. The offering is being
conducted as a public offering pursuant to an effective shelf registration
statement under the Securities Act of 1933.
The Company will receive approximately $176.8 million of gross proceeds,
before deducting underwriting discounts and estimated offering expenses. The
Company intends to use the net proceeds from the offering for the repayment of
the outstanding principal balance of its unsecured revolving credit facility,
which was approximately $160.0 million at October 16, 2013, and the remaining
net proceeds for general business purposes. Completion of the offering is
subject to customary closing conditions and is expected to occur on or about
October 23, 2013.
Citigroup and KeyBanc Capital Markets are acting as the underwriters for the
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be a 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 any such
state or jurisdiction.
The offering is being made by means of a prospectus supplement and the
accompanying prospectus only. Copies of the prospectus supplement and
accompanying prospectus, when available, may be obtained by contacting
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone at (800) 831-9146, or KeyBanc Capital
Markets, Attention: Prospectus Delivery Department, 127 Public Square, 4th
Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783.
About EPR Properties
EPR Properties is a specialty real estate investment trust (REIT) that invests
in properties in select market segments which require unique industry
knowledge, while offering the potential for stable and attractive returns. Our
total investments exceed $3.2 billion and our primary investment segments are
Entertainment, Recreation and Education. We adhere to rigorous underwriting
and investing criteria centered on key industry and property level cash flow
standards. We believe our focused niche approach provides a competitive
advantage, and the potential for higher growth and better yields.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
With the exception of historical information, certain statements contained or
incorporated by reference herein may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), such as those pertaining to our acquisition or
disposition of properties, our capital resources, future expenditures for
development projects, and our results of operations and financial condition.
Forward-looking statements involve numerous risks and uncertainties and you
should not rely on them as predictions of actual events. There is no assurance
the events or circumstances reflected in the forward-looking statements will
occur. You can identify forward-looking statements by use of words such as
“will be,” “intend,” “continue,” “believe,” “expect,” “hope,” “anticipate,”
“goal,” “forecast,” “pipeline,” “anticipates,” “estimates,” “offers,” “plans,”
“would,” “may” or other similar expressions or other comparable terms or
discussions of strategy, plans or intentions contained or incorporated by
reference herein. Forward-looking statements necessarily are dependent on
assumptions, data or methods that may be incorrect or imprecise. These
forward-looking statements represent our intentions, plans, expectations and
beliefs and are subject to numerous assumptions, risks and uncertainties. Many
of the factors that will determine these items are beyond our ability to
control or predict. For further discussion of these factors see our filings
with the Securities and Exchange Commission, including “Item 1A. Risk Factors”
in our most recent Annual Report on Form 10-K and, to the extent applicable,
our Quarterly Reports on Form 10-Q.
For these statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities Litigation
Reform Act of 1995. You are cautioned not to place undue reliance on our
forward-looking statements, which speak only as of the date hereof or the date
of any document incorporated by reference herein. All subsequent written and
oral forward-looking statements attributable to us or any person acting on our
behalf are expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. We do not undertake any obligation
to release publicly any revisions to our forward-looking statements to reflect
events or circumstances after the date hereof.
Brian Moriarty, 1-888-EPR-REIT
Vice President - Corporate Communications
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