May 18 2012
Healthcare Trust of America, Inc. ("HTA") announced today that it intends to commence a modified "Dutch Auction" tender offer (subject to all appropriate filings with the Securities and Exchange Commission ("SEC")) to purchase up to $150 million of its shares of Class A common stock (the "Shares") from its stockholders. The Class A common stock is issuable upon conversion of HTA's common stock into Class A, Class B-1, Class B-2 and Class B-3 shares in connection with a listing on a national securities exchange. Under the terms of the proposed tender offer, HTA expects to select the lowest price, not greater than $10.50 nor less than $10.10 per Share, net to the tendering stockholder in cash, less any applicable withholding taxes and without interest, that will allow HTA to purchase up to $150.0 million of its Shares, or a lower amount depending upon the number of Shares properly tendered and not withdrawn. HTA intends to fund the tender offer with cash on hand and funds available under HTA's unsecured revolving credit and term loan facility. HTA expects to commence the proposed tender offer on or about June 6, 2012 in conjunction with a listing on the NYSE.
HTA has determined to commence the tender offer in order to provide liquidity to stockholders by permitting stockholders the opportunity to tender the Shares for cash in accordance with the terms of the offer to purchase to be filed with the SEC.
None of HTA, its board of directors, the information agent, or any of their respective affiliates, will make any recommendations to stockholders as to whether to tender or refrain from tendering their Shares in the tender offer. Stockholders must decide how many Shares they will tender, if any.
Source:
Healthcare Trust of America, Inc.