NEWTON, Mass., Jan 14, 2010 (BUSINESS WIRE) -- Government Properties Income Trust (NYSE: GOV) today announced it has
priced a public offering of 8,500,000 common shares of beneficial
interest at a price of $21.50 per share. The settlement of this offering
is expected to occur on Thursday, January 21, 2010. GOV expects to use
the net proceeds of this offering to reduce amounts outstanding under
its secured revolving credit facility and to fund its business
activities, including some or all of the purchase price of its pending
acquisitions. The underwriters have been granted a 30-day option to
purchase up to an additional 1,275,000 shares to cover over-allotments,
if any. The offering size has been increased from the previously
proposed 7,500,000 share offering.
The joint book-running managers for this offering are Morgan Stanley,
Jefferies & Company and Wells Fargo Securities. The co-lead managers for
this offering are Citi, UBS Investment Bank, Morgan Keegan & Company,
Inc. and RBC Capital Markets. The co-managers for this offering are
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 may be
obtained from the offices of Morgan Stanley & Co., Inc., 180 Varick
Street, 2nd Floor, New York, New York 10014, Attention: Prospectus
Department, or by calling 1-866-718-1649; Jefferies & Company, Inc., 520
Madison Avenue, New York, New York 10022 (toll-free telephone number:
1-888-449-2342) and Wells Fargo Securities, LLC, Attn: Equity Syndicate
Department, 375 Park Avenue, New York, N.Y., 10152 (e-mail: equity.syndicate@wachovia.com
or telephone: 800-326-5897) or by contacting any of the other
underwriters listed above.
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 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 JANUARY 21, 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 1,275,000 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.
(end)
SOURCE: Government Properties Income Trust
Government Properties Income Trust
Timothy A. Bonang, 617-219-1440
Vice President, Investor Relations