NEWTON, Mass., Aug 05, 2010 (BUSINESS WIRE) -- Government Properties Income Trust (NYSE: GOV) today announced it has
priced a public offering of 8,000,000 common shares of beneficial
interest at a public offering price of $25.00 per share. The settlement
of this offering is expected to occur on Wednesday, August 11, 2010. GOV
expects to use the net proceeds of this offering to repay amounts
outstanding under its $250 million revolving credit facility and to fund
general business activities, including possible future acquisitions. The
underwriters have been granted a 30-day option to purchase up to an
additional 1,200,000 shares to cover over allotments, if any.
The joint book-running managers for this offering are Morgan Stanley,
RBC Capital Markets and Wells Fargo Securities. The co-lead managers for
this offering are Citi, Jefferies & Company, Morgan Keegan & Company,
Inc. and UBS Investment Bank. The co-managers for this offering are BB&T
Capital Markets, Janney Montgomery Scott and Oppenheimer & Co.
This press release is not 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. Copies of the prospectus supplement
and related prospectus may be obtained from the offices of Morgan
Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New
York 10014, Attention: Prospectus Department, or by calling (866)
718-1649; RBC Capital Markets Corporation at Three World Financial
Center, 200 Vesey Street 8th Floor, New York, New York, 10281, or by
calling (877) 822-4089; and Wells Fargo Securities, LLC, Attention:
Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152,
at (800) 326-5897 or e-mail a request to: equity.syndicate@wachovia.com.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE
FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS AND THEIR
IMPLICATIONS ARE BASED UPON GOV'S PRESENT BELIEFS AND EXPECTATION, BUT
THESE FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR FOR VARIOUS REASONS. FOR EXAMPLE:
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THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF COMMON
SHARES IS EXPECTED TO OCCUR ON AUGUST 11, 2010. IN FACT, THE
SETTLEMENT OF THIS OFFERING 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 OCCUR, THIS OFFERING MAY NOT CLOSE.
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THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN
OPTION TO PURCHASE UP TO AN ADDITIONAL 1,200,000 COMMON SHARES TO
COVER OVER ALLOTMENTS, IF ANY. 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.
SOURCE: Government Properties Income Trust
Government Properties Income Trust
Timothy A. Bonang, 617-219-1410
Vice President, Investor Relations
or
Elisabeth Heiss, 617-219-1410
Manager, Investor Relations