Medical Properties Trust Prices Public Offering Of 32.00 Mln Shares At $20.05/shr

(RTTNews) - Medical Properties Trust Inc. (MPW) said that it has priced an underwritten public offering of 32.00 million shares of its common stock at $20.05 per share.

The company has granted the underwriters a 30-day option to purchase up to an additional 4.80 million shares of its common stock.

The company estimates that the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, will be about $618.1 million, or about $711.0 million if the underwriters' option to purchase additional shares is exercised in full.

The company plans to use the net proceeds from the offering to fund in part the previously announced transactions related to the acquisition of a portfolio of behavioral healthcare real estate assets located throughout the United Kingdom currently owned and operated by the Priory Group, as well as the related costs and expenses of the transactions.