American Campus Communities Announces At-the-Market Equity Program
June 25 2015 - 5:14PM
Business Wire
American Campus Communities, Inc. (NYSE:ACC), the largest
owner, manager and developer of high-quality student housing
properties in the U.S., today announced that it has created an
at-the-market (“ATM”) equity program under which it may sell common
stock with an aggregate offering price of up to $500 million from
time to time pursuant to equity distribution agreements entered
into with Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and
KeyBanc Capital Markets Inc., as sales agents and/or principals.
The shares that may be sold under this program include shares of
common stock of the Company with an aggregate offering price of
approximately $194 million that were not sold under the company's
prior ATM program that expired in May 2015.
The company has filed a registration statement (including a
prospectus) and a prospectus supplement with the Securities and
Exchange Commission (the “SEC”) for the offering of the common
stock described in this communication. Before you invest, you
should read the prospectus in that registration statement, the
prospectus supplement relating to the ATM equity program and other
documents the company has filed with the SEC for more complete
information about the company and the ATM equity program. You may
obtain these documents for free by visiting EDGAR on the SEC web
site at www.sec.gov. Additionally, copies of the prospectus
supplement and accompanying prospectus relating to these securities
may be obtained by contacting BofA Merrill Lynch, 222 Broadway, New
York, NY 10038, Attn: Prospectus Department or via email at
dg.prospectus_requests@baml.com;
Deutsche Bank Securities, Prospectus Group, 60 Wall Street, New
York, NY 10005, via telephone: 1-800-503-4611 or via email:
prospectus.cpdg@db.com; J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, telephone
1-866-803-9204; or KeyBanc Capital Markets, Attention: Prospectus
Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio
44114, or by calling (800) 859-1783.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. The ATM offering may be made only by
means of a prospectus supplement and the related prospectus.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality student housing communities in the
United States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (“REIT”) with
expertise in the design, finance, development, construction
management and operational management of student housing
properties. As of March 31, 2015, American Campus Communities owned
164 student housing properties containing approximately 100,000
beds. Including its owned and third-party managed properties, ACC's
total managed portfolio consisted of 203 properties with
approximately 130,100 beds.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates
and projections about the industry and markets in which American
Campus Communities, Inc. operates, management's beliefs, and
assumptions made by management. Forward-looking statements are not
guarantees of future performance and involve certain risks and
uncertainties, which are difficult to predict.
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version on businesswire.com: http://www.businesswire.com/news/home/20150625006389/en/
American Campus Communities, Inc.Ryan Dennison,
512-732-1000Investor Relations
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