NEWPORT BEACH, Calif., June 28 /PRNewswire-FirstCall/ -- Nationwide Health Properties, Inc. today announced it plans to publicly offer 1,000,000 shares of its Series B Cumulative Convertible Preferred Stock, each with a liquidation preference of $100 per share. The offering is being made pursuant to a shelf registration statement that became effective on October 16, 2003. In addition, the Company will grant to the underwriters a 30-day option to purchase up to an additional 150,000 shares of the preferred stock to cover over-allotments, if any.
The Company intends to use the net proceeds of the offering to repay outstanding indebtedness under its unsecured revolving bank line of credit and for general corporate purposes.
JPMorgan is acting as sole book-runner for the offering. Banc of America Securities LLC, Citigroup Global Markets Inc. and Wachovia Capital Markets, LLC are acting as co-managers for the offering.
This press release shall not constitute an offer to sell nor a solicitation of an offer to buy nor shall there be any sale of these securities in any state or 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.
A preliminary prospectus supplement related to this offering may be obtained from:
J.P. Morgan Securities Inc. Distribution and Support Services 1 Chase Manhattan Plaza, Floor 5B New York, NY 10081 (212) 552-5164
Nationwide Health Properties, Inc. is a real estate investment trust that invests in senior housing and long-term care facilities. The Company and its joint venture have investments in 402 facilities in 39 states. For more information on Nationwide Health Properties, Inc., visit the Company’s website at http://www.nhp-reit.com/.
Certain information contained in this news release includes forward- looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are not statements of historical facts. These statements may be identified, without limitation, by the use of forward looking terminology such as “may,” “will,” “anticipates,” “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. All forward-looking statements included in this news release are based on information available to us on the date hereof. These statements speak only as of the date hereof, and we assume no obligation to update such forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. See the risk factors described in our annual report on Form 10-K filed with the SEC on March 9, 2004.
CONTACT: Mark L. Desmond Senior Vice President & CFO (949) 718-4400
Nationwide Health Properties, Inc.
CONTACT: Mark L. Desmond, Senior Vice President & CFO of NationwideHealth Properties, Inc., +1-949-718-4400
