8-K: Current report filing
Published on September 22, 2008
Exhibit 99.1
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PRESS
RELEASE – FOR IMMEDIATE RELEASE
OMEGA
ANNOUNCES CLOSING OF SALE OF COMMON STOCK
TIMONIUM, MARYLAND – September
19, 2008 – Omega Healthcare Investors, Inc. (NYSE:OHI) today
announced that it closed its underwritten public offering of 6,000,000
shares of its common stock at a price to the public of $16.37 per share.
Omega received approximately $97 million in net proceeds from the sale of
the shares, after deducting underwriting discounts and estimated offering
expenses. Omega intends to use the net proceeds of the offering to repay
indebtedness outstanding under its senior revolving credit facility and
for working capital and general corporate purposes.
UBS
Securities LLC acted as the sole book-running manager for the offering.
Stifel, Nicolaus & Company, Incorporated acted as co-manager 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 sales of these securities in any
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.
A
prospectus relating to these securities has been filed with the Securities
and Exchange Commission. The prospectus may be obtained from:
UBS
Investment Bank
Prospectus
Department
299
Park Avenue
New
York, NY 10171
* * * * * *
Omega
is a real estate investment trust investing in and providing financing to
the long-term care industry. As of June 30, 2008, Omega owned
or held mortgages on 252 healthcare facilities, located in 29 states and
operated by 26 third-party operators.
FOR
FURTHER INFORMATION, CONTACT
Bob
Stephenson, CFO at (410) 427-1700
________________________
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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