American Homes 4 Rent Announces Pricing of 5% Series B Participating Preferred Share Offering

American Homes 4 Rent Announces Pricing of 5% Series B Participating Preferred
                                Share Offering

PR Newswire

AGOURA HILLS, Calif., Dec. 20, 2013

AGOURA HILLS, Calif., Dec. 20, 2013 /PRNewswire/ -- American Homes 4 Rent
(NYSE: AMH) (the "Company") today announced the pricing of its underwritten
public offering of 4,000,000 of its 5% Series B Participating Preferred Shares
for gross proceeds of $100 million, before deducting underwriting discounts
and estimated offering expenses. The Series B Participating Preferred Shares
have an initial liquidation preference of $25.00 per share that may be
increased by an additional amount based on home price appreciation in the
Company's top 20 markets as determined by the Federal Housing Finance Agency's
House Price Index, subject to certain limitations and conditions, as described
in the prospectus for the securities.[1] The offering is expected to close on
December 30, 2013, subject to customary closing conditions. The Company has
granted the underwriters a 30-day option to purchase up to an additional
600,000 Series B Participating Preferred Shares at the public offering price,
less underwriting discounts and commissions. The Company intends to apply to
list the Series B Participating Preferred Shares on the New York Stock
Exchange under the symbol "AMHPRB." 

The Company 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 business purposes.

Raymond James, Jefferies and Citigroup 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 and became effective on December 20, 2013.
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 jurisdiction.

The offering is being made only by means of a prospectus. Copies of the final
prospectus relating to the offering will be filed with the Securities and
Exchange Commission and may be obtained, when available, 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
prospectus@raymondjames.com; 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 emailing
Prospectus_Department@Jefferies.com; or from Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by
email at batprospectusdept@citi.com, or by calling toll-free at
1-800-831-9146.

[1] Top 20 markets used to determine percentage weightings have been
determined by AMH holdings of single-family homes as of July 31, 2013. The
Federal Housing Finance Agency's Quarterly Purchase-only House 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.

Forward-Looking Statements

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," "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, statements
regarding the timing of the closing of the offering, the anticipated listing
of the Series B Participating Preferred Shares on the New York Stock Exchange
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.

Contact: Peter J. Nelson
American Homes 4 Rent
Tel: (310) 774-5394

SOURCE American Homes 4 Rent
 
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