CARE CAPITAL PROPERTIES,INC. (NYSE:CCP) Files An 8-K Other Events
Item 8.01 Other Events.
On December19, 2016, Care Capital Properties,Inc. (the Company)
and Care Capital Properties, LP (Care Capital LP) entered into an
Equity Distribution Agreement (the Agreement) with Morgan Stanley
Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc.,
Credit Agricole Securities (USA) Inc., Jefferies LLC, J.P. Morgan
Securities LLC, MUFG Securities Americas Inc., RBC Capital
Markets, LLC, Stifel, Nicolaus Company,Incorporated and UBS
Securities LLC (collectively, the Managers), to which the Company
may offer and sell through the Managers, from time to time,
shares of the Companys common stock, par value $0.01 per share
(Common Stock), having an aggregate gross sales price of up to
$250,000,000 (the Shares). Sales, if any, of Shares will be made
primarily in at-the-market offerings, as defined in Rule415 under
the Securities Act of 1933, as amended (the Securities Act),
including sales made directly on the New York Stock Exchange, the
existing trading market for the Common Stock, or sales made to or
through a market maker or through an electronic communications
network. Sales of Shares may also be made in privately negotiated
transactions.
The Company intends to use the net proceeds from the offering of
any Shares for general corporate purposes, including to fund
acquisitions and investments and to repay indebtedness.
The Shares will be offered and sold to the Companys Registration
Statement on FormS-3 (File No.333-213616) (the Registration
Statement) previously filed by the Company under the Securities
Act, which Registration Statement became effective automatically
upon filing with the Securities and Exchange Commission on
September13, 2016.
The foregoing description of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Agreement, a copy of which is filed herewith as
Exhibit1.1 and incorporated in this Item 8.01 by reference.
The representations, warranties and covenants contained in the
Agreement were made as of a specified date, may be subject to a
contractual standard of materiality different from what might be
viewed as material to investors, or may have been used for the
purpose of allocating risk between the parties. Accordingly, the
representations and warranties in the Agreement are not
necessarily characterizations of the actual state of facts about
the Company, Care Capital LP and their subsidiaries at the time
they were made or otherwise and should be read only in
conjunction with the other information that the Company makes
publicly available in reports, statements and other documents
filed with the Securities and Exchange Commission. Investors are
not third-party beneficiaries of, and should not rely upon, such
representations, warranties and covenants.
Item 9.01. Financial Statements and
Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transactions.
Not applicable.
(d) Exhibits:
Exhibit Number |
|
Description |
1.1 |
Equity Distribution Agreement, dated December19, 2016, |
|
5.1 |
Opinion of Sidley Austin LLP. |
|
23.1 |
Consent of Sidley Austin LLP (included in its opinion |
About CARE CAPITAL PROPERTIES, INC. (NYSE:CCP)
Care Capital Properties, Inc. is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures. It originates and manages a small portfolio of secured and unsecured loans, made to its SNF operators and other post-acute care providers. It operates in triple-net leased properties segment. Its portfolio consists of approximately 360 properties operated by over 39 private regional and local care providers, spread across over 36 states, and containing approximately 39,000 beds/units. It operates through its wholly owned operating partnership, Care Capital Properties, LP (Care Capital LP) and its subsidiaries. CARE CAPITAL PROPERTIES, INC. (NYSE:CCP) Recent Trading Information
CARE CAPITAL PROPERTIES, INC. (NYSE:CCP) closed its last trading session up +0.54 at 24.85 with 990,726 shares trading hands.