American Homes 4 Rent announced that it has commenced an underwritten public offering of 11,000,000 of its Class A common shares of beneficial interest, $0.01 par value per share (“Class A common shares”). The Company also plans to grant to the underwriters a 30-day option to purchase up to an additional 1,650,000 Class A common shares.
The Company intends to use the net proceeds from the offering to repay indebtedness under its revolving credit facility, to develop new single-family properties and communities, to acquire and renovate single-family properties and for general corporate purposes. The foregoing application may be effected through the Company’s operating partnership by the Company contributing a portion of the net proceeds to its operating partnership in exchange for Class A partnership units.
BofA Securities and Morgan Stanley are acting as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful before registration or qualification thereof under the securities laws of any such state or jurisdiction.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. Copies of the preliminary prospectus supplement relating to the offering and the final prospectus supplement, when available, may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or from BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by email at email@example.com; and Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.
About American Homes 4 Rent
American Homes 4 Rent is a leader in the single-family home rental industry and “American Homes 4 Rent” is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of June 30, 2020, we held approximately 53,000 single-family properties, in selected submarkets in 22 states.
American Homes 4 Rent
Phone: (855) 794-2447