Government Properties Income Trust Prices Offering of 25,000,000 Common Shares
June 28 2017 - 6:30PM
Business Wire
Government Properties Income Trust (Nasdaq: GOV) today announced
that it has priced a public offering of 25,000,000 common shares at
a price to the public of $18.50 per common share. The settlement of
this offering is expected to occur on July 5, 2017. GOV expects to
use the net proceeds from this offering to fund, in part, its
previously announced acquisition of First Potomac Realty Trust, or
FPO. Pending the consummation of the FPO acquisition and the use of
proceeds described above GOV may repay amounts outstanding under
its unsecured revolving credit facility or invest the net proceeds
from this offering in short term investments consistent with its
intention to maintain its qualification for taxation as a REIT. The
underwriters have been granted a 30-day option to purchase up to an
additional 3,750,000 common shares.
The joint bookrunning managers for this offering were Citigroup,
BofA Merrill Lynch, Morgan Stanley and UBS Investment Bank. The
joint lead managers for this offering are Baird, BB&T Capital
Markets, D.A. Davidson & Co., FBR & Co., Janney Montgomery
Scott, JMP Securities, Mizuho Securities 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 prospectus supplement relating to this offering
and related prospectus will be filed with the Securities and
Exchange Commission (SEC) and copies can be obtained when
available by contacting the offices of: Citigroup,
c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by calling (800) 831-9146;
BofA Merrill Lynch, Attention: Prospectus Department,
NC1-004-03-43, 200 North College Street,
3rd Floor, Charlotte, NC 28255-0001,
email: dg.prospectus_requests@baml.com; Morgan Stanley,
Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014; or UBS Securities
LLC, Attention: Prospectus Department, 1285 Avenue of the Americas,
New York, NY, 10019 or by calling (888) 827-7275.
WARNING CONCERNING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. ALSO, WHENEVER GOV USES WORDS SUCH AS
“BELIEVE”, “EXPECT”, “ANTICIPATE”, “INTEND”, “PLAN”, “ESTIMATE”,
“WILL”, “MAY”, AND NEGATIVES OR DERIVATIVES OF THESE OR SIMILAR
EXPRESSIONS, GOV IS MAKING FORWARD LOOKING STATEMENTS. THESE
FORWARD LOOKING STATEMENTS ARE BASED UPON GOV'S PRESENT INTENT,
BELIEFS AND EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT
GUARANTEED TO OCCUR AND MAY NOT OCCUR. ACTUAL RESULTS MAY DIFFER
MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY GOV’S FORWARD
LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
COMPANY EXPECTS THE SETTLEMENT OF THE COMMON SHARES TO OCCUR ON
JULY 5, 2017. IN FACT, THE ISSUANCE AND DELIVERY OF THE COMMON
SHARES IS 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, THIS OFFERING MAY NOT CLOSE.
- THIS PRESS RELEASE STATES THAT THE
UNDERWRITERS HAVE BEEN GRANTED AN OPTION TO PURCHASE UP TO AN
ADDITIONAL 3,750,000 COMMON SHARES. AN IMPLICATION OF THIS
STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED IN WHOLE OR IN
PART. IN FACT, GOV DOES NOT KNOW WHETHER THE UNDERWRITERS WILL
EXERCISE THIS OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO
PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the Nasdaq.No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20170628006516/en/
Government Properties Income TrustChristopher Ranjitkar,
617-219-1410Director, Investor Relations
Government Properties Income (NASDAQ:GOV)
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