TravelCenters of America LLC Announces Public Offering of 5,000,000 Common
WESTLAKE, Ohio -- December 9, 2013
TravelCenters of America LLC (NYSE: TA) today announced that it has commenced
a public offering of 5,000,000 common shares. TA expects to use the proceeds
from the offering to fund its business and growth strategies and for general
business purposes. Some of the net proceeds may be used to fund a portion of
the purchase price of its pending convenience store acquisition and other
expansion activities. It is contemplated that the underwriters will also be
granted a 30 day option to purchase up to an additional 750,000 common shares.
The joint book-running managers for the offering are Citigroup, RBC Capital
Markets and UBS Investment Bank. The co-managers for the offering are BB&T
Securities, Craig-Hallum Capital Group, Janney Montgomery Scott and
Oppenheimer & Co..
This press release is neither an offer to sell nor a solicitation of an offer
to buy shares, nor shall there be any sale of these securities in any state or
jurisdiction in which the offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such state or
jurisdiction. The preliminary prospectus supplement relating to the offering
and related prospectus are expected to be filed with the Securities and
Exchange Commission (SEC) and copies can be obtained by contacting the offices
of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: (800) 831-9146; RBC Capital Markets, Attention:
Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th
Floor, New York, NY 10281-8098, telephone: (877) 822-4089; or UBS Investment
Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171,
telephone: (888) 827-7275.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES
LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TA’S PRESENT BELIEFS AND
EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:
*ALTHOUGH THIS PRESS RELEASE REFERS TO AN OFFERING OF 5,000,000 COMMON
SHARES, GREATER OR LESS THAN 5,000,000 COMMON SHARES MAY BE SOLD OR THE
OFFERING MAY BE WITHDRAWN.
*IF TA AGREES TO SELL COMMON SHARES IN THE OFFERING, THE CLOSING OF THE
OFFERING WILL BE SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE
CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE
CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR,
THE SALE OF THE COMMON SHARES MAY NOT CLOSE.
*THIS PRESS RELEASE STATES TA’S CURRENT INTENT TO USE THE PROCEEDS OF THE
OFFERING TO FUND ITS BUSINESS AND GROWTH STRATEGIES AND FOR GENERAL
BUSINESS PURPOSES, AND THAT SOME OF THE NET PROCEEDS MAY BE USED TO FUND A
PORTION OF THE PURCHASE PRICE OF ITS PENDING CONVENIENCE STORE
ACQUISITION. THE USE OF THE NET PROCEEDS WILL BE DEPENDENT ON THE CLOSING
OF THE OFFERING, WHICH MAY NOT OCCUR.
*THIS PRESS RELEASE STATES THAT THE UNDERWRITERS ARE EXPECTED TO BE GRANTED
AN OPTION TO PURCHASE UP TO AN ADDITIONAL 750,000 COMMON SHARES. AN
IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED IN
WHOLE OR IN PART. IN FACT, TA DOES NOT KNOW WHETHER THE UNDERWRITERS WILL
EXERCISE ANY SUCH OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE
RELIANCE UPON FORWARD LOOKING STATEMENTS.
TravelCenters of America LLC
Timothy A. Bonang, 617-796-8251
Vice President, Investor Relations
Katie Strohacker, 617-796-8251
Senior Manager, Investor Relations
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