EPR Properties Prices Public Offering Of 3.60 Mln Shares

(RTTNews) - EPR Properties (EPR) announced the pricing of its underwritten public offering of 3.60 million of its common shares. The company said it will receive about $176.8 million of gross proceeds, before deducting underwriting discounts and estimated offering expenses.

The company noted that it 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 offering.