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American Homes 4 Rent Announces Public Offering Of 5% Series B Participating Preferred Shares

AGOURA HILLS, Calif., Dec. 11, 2013 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that the Company has commenced an underwritten public offering of its 5% Series B Participating Preferred Shares. Investors in the Series B Participating Preferred Shares may also potentially benefit from home price appreciation in the Company's top 20 markets by participating in home price gains as determined by the Federal Housing Finance Agency's House Price Index, subject to certain limitations and payable upon certain defined realization events in each case described in the prospectus for the securities.  [1] In addition, the Company will grant the underwriters a 30-day option to purchase up to an additional 15% of the Series B Participating Preferred Shares. The Company intends to apply to list the Series B Participating Preferred Shares on the New York Stock Exchange under the symbol "AMHPRB."

The Company intends to distribute the net proceeds of the offering to its operating partnership. The operating partnership 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, Jefferies and Citigroup 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 but has not yet become effective. These securities may not be sold nor may offers to buy be accepted before the registration statement becomes effective.  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.

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