This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

American Homes 4 Rent Announces Pricing Of 5% Series A Participating Preferred Share Offering

AGOURA HILLS, Calif., Oct. 18, 2013 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH) (the "Company") today announced the pricing of its underwritten public offering of 4,400,000 of its 5% Series A Participating Preferred Shares for gross proceeds of approximately $110 million, before deducting underwriting discounts and estimated offering expenses.  The Series A Participating Preferred Shares have an initial liquidation preference of $25 per share that may be increased by an additional amount based on home price appreciation in the Company's top 20 markets as determined by the Federal Housing Finance Agency's House Price Index, subject to certain limitations and conditions, as described in the prospectus for the securities.[1]  The offering is expected to close on October 25, 2013, subject to customary closing conditions.  The Company has granted the underwriters a 30-day option to purchase up to an additional 660,000 Series A Participating Preferred Shares at the public offering price, less underwriting discounts and commissions.  The Company intends to apply to list the Series A Participating Preferred Shares on the New York Stock Exchange under the symbol "AMHPRA."   

The Company intends to use the net proceeds of the offering to continue to acquire and renovate single-family properties, to repay borrowings under its credit facility and for general business purposes.       

Raymond James and Jefferies are the joint book-running managers for the offering.  Hogan Lovells US LLP is serving as legal counsel for the Company.  Latham & Watkins LLP is serving as legal counsel to the underwriters.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on October 18, 2013.  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 only by means of a prospectus.  Copies of the final prospectus relating to the offering will be filed with the Securities and Exchange Commission and may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling toll-free at 1-800-248-8863, or by emailing prospectus@raymondjames.com; or from Jefferies LLC, Attention: Debt Syndicate Prospectus Department, 520 Madison Avenue, 12th floor, New York, NY 10022, or by calling toll-free at 1-877-547-6340 or by emailing Prospectus_Department@Jefferies.com.

Forward-Looking Statements

This press release contains "forward-looking statements."  These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "anticipate," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes.  These forward-looking statements may include, but are not limited to, the timing of the closing of the offering and the Company's intended use of the net proceeds.  The Company has based these forward-looking statements on its current expectations and assumptions about future events.  While the Company's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control.  Investors should not place undue reliance on these forward-looking statements. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,697.32 -183.04 -1.08%
S&P 500 1,943.91 -26.16 -1.33%
NASDAQ 4,390.8170 -72.0850 -1.62%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs