8-K: Current report filing
Published on September 16, 2008
EXHIBIT 99.1
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OMEGA
HEALTHCARE ANNOUNCES PUBLIC OFFERING
OF
6,000,000 SHARES OFCOMMON STOCK
TIMONIUM, MARYLAND – September
16, 2008 – Omega Healthcare
Investors, Inc. (NYSE:OHI) (“Omega”) today announced an underwritten
public offering of 6,000,000 shares of its common stock. The
last reported sale of Omega’s common stock on the New York Stock Exchange
on September 15, 2008 was $17.23. Omega expects to use the proceeds to
repay indebtedness outstanding under its senior credit facility, for
working capital and general corporate purposes. Completion of
the offering is subject to customary closing conditions. UBS
Investment Bank was the Sole Book Running Manager and Stifel Nicolaus was
the Co-Manager on this offering.
The
shares of common stock are being offered under Omega's existing shelf
registration statement on file with the Securities and Exchange
Commission. A prospectus supplement and accompanying prospectus describing
the terms of the offering will be filed with the Securities and Exchange
Commission. When available, copies of the prospectus supplement and the
accompanying prospectus may be obtained from:
UBS
Investment Bank
Prospectus
Department
299
Park Avenue
New
York, NY 10171
This
press release shall not constitute an offer to sell, nor a solicitation of
an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction.
* * * * * *
Omega
is a real estate investment trust investing in and providing financing to
the long-term care industry. At June 30, 2008, Omega owned or held
mortgages on 252 healthcare facilities located in 29 states and operated
by 26 third-party healthcare operating companies.
FOR
FURTHER INFORMATION, CONTACT
Bob
Stephenson, CFO at (410) 427-1700 or
visit
Omega’s website at www.omegahealthcare.com
________________________
This
announcement includes forward-looking statements. Actual results may
differ materially from those reflected in such forward-looking statements
as a result of a variety of factors, including, among other things: (i)
uncertainties relating to the business operations of the operators of the
Company's properties, including those relating to reimbursement by
third-party payors, regulatory matters and occupancy levels; (ii)
regulatory and other changes in the healthcare sector, including without
limitation, changes in Medicare reimbursement; (iii) changes in the
financial position of the Company's operators; (iv) the ability of
operators in bankruptcy to reject unexpired lease obligations, modify the
terms of the Company's mortgages, and impede the ability of the Company to
collect unpaid rent or interest during the pendency of a bankruptcy
proceeding and retain security deposits for the debtor's obligations; (v)
the availability and cost of capital; (vi) competition in the financing of
healthcare facilities; (vii) the Company's ability to maintain its status
as a real estate investment trust; and (viii) other factors identified in
the Company's filings with the Securities and Exchange Commission.
Statements regarding future events and developments and the Company's
future performance, as well as management's expectations, beliefs, plans,
estimates or projections relating to the future, are forward-looking
statements.
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