Care Capital Properties Announces Filing of Registration Statement
February 01 2016 - 6:52AM
Business Wire
Care Capital Properties, Inc. (NYSE:CCP) (“CCP” or the
“Company”) today announced that it has filed a long-form
registration statement on Form S-11 with the Securities and
Exchange Commission (“SEC”) relating to a potential public offering
of its common stock. Under SEC rules, the Company cannot use the
short-form shelf registration process until it has been a public
reporting company for at least one year.
The timing of a potential offering, if any, made pursuant to the
registration statement is uncertain. Any potential offering of
common stock by the Company may not commence until, among other
matters, the SEC completes its review process with respect to the
long-form registration statement on Form S-11. In addition, whether
and when the Company decides to commence an offering pursuant to
the registration statement (and the size of any such offering) will
depend on market and other conditions existing at that time, and,
therefore, there can be no assurance that an offering will
occur.
The registration statement has not yet become effective. These
securities may not be sold, nor may offers to buy these securities
be accepted prior to the time the registration statement becomes
effective. 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 sales would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
Care Capital Properties, Inc. is a healthcare real estate
investment trust with a diversified portfolio of triple-net leased
properties focused on the post-acute sector. Its skilled management
team is fully invested in delivering excellent returns by forging
strong relationships with shareholders, operators and
employees.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements regarding CCP’s or its tenants’ or
borrowers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and
dividend plans, financing opportunities and plans, capital markets
transactions, business strategy, budgets, projected costs,
operating metrics, capital expenditures, competitive positions,
acquisitions, investment opportunities, dispositions, growth
opportunities, expected lease income, continued qualification as a
real estate investment trust (“REIT”), plans and objectives of
management for future operations and statements that include words
such as “anticipate,” “if,” “believe,” “plan,” “estimate,”
“expect,” “intend,” “may,” “could,” “should,” “will” and other
similar expressions are forward-looking statements. These
forward-looking statements are inherently uncertain, and actual
results may differ from CCP’s expectations. CCP does not undertake
a duty to update these forward-looking statements, which speak only
as of the date on which they are made.
CCP’s actual future results and trends may differ materially
from expectations depending on a variety of factors discussed in
its filings with the Securities and Exchange Commission. These
factors include without limitation: (a) the ability and willingness
of CCP’s tenants, borrowers and other third parties to satisfy
their obligations under their respective contractual arrangements
with CCP, including, in some cases, their obligations to indemnify,
defend and hold harmless CCP from and against various claims,
litigation and liabilities; (b) the ability of CCP’s tenants and
borrowers to maintain the financial strength and liquidity
necessary to satisfy their respective obligations and liabilities
to third parties, including without limitation obligations under
their existing credit facilities and other indebtedness; (c) CCP’s
success in implementing its business strategy and its ability to
identify, underwrite, finance, consummate and integrate
diversifying acquisitions and investments; (d) macroeconomic
conditions such as a disruption of or lack of access to the capital
markets, changes in the debt rating on U.S. government securities,
default or delay in payment by the United States of its
obligations, and changes in the federal or state budgets resulting
in the reduction or nonpayment of Medicare or Medicaid
reimbursement rates; (e) the nature and extent of future
competition, including new construction in the markets in which
CCP’s properties are located; (f) the extent of future or pending
healthcare reform and regulation, including cost containment
measures and changes in reimbursement policies, procedures and
rates; (g) increases in CCP’s borrowing costs as a result of
changes in interest rates and other factors; (h) the ability of
CCP’s tenants to comply with laws, rules and regulations in the
operation of CCP’s properties, to deliver high-quality services, to
attract and retain qualified personnel and to attract residents and
patients; (i) changes in general economic conditions or economic
conditions in the markets in which CCP may, from time to time,
compete, and the effect of those changes on CCP’s revenues,
earnings and capital sources; (j) CCP’s ability to pay down,
refinance, restructure or extend its indebtedness as it becomes
due; (k) CCP’s ability and willingness to maintain its
qualification as a REIT in light of economic, market, legal, tax
and other considerations; (l) final determination of CCP’s taxable
net income for the year ended December 31, 2015; (m) the ability
and willingness of CCP’s tenants to renew their leases upon
expiration, CCP’s ability to reposition its properties on the same
or better terms in the event of nonrenewal or in the event CCP
exercises its right to replace an existing tenant, and obligations,
including indemnification obligations, CCP may incur in connection
with the replacement of an existing tenant; (n) year-over-year
changes in the Consumer Price Index and the effect of those changes
on the rent escalators contained in CCP’s leases and on CCP’s
earnings; (o) CCP’s ability and the ability of its tenants and
borrowers to obtain and maintain adequate property, liability and
other insurance from reputable, financially stable providers; (p)
the impact of increased operating costs and uninsured professional
liability claims on CCP’s or its tenants’ or borrowers’ liquidity,
financial condition and results of operations, and the ability of
CCP and its tenants and borrowers to accurately estimate the
magnitude of those claims; (q) consolidation in the healthcare
industry resulting in a change of control of, or a competitor’s
investment in, one or more of CCP’s tenants or borrowers or
significant changes in the senior management of CCP’s tenants or
borrowers; (r) the impact of litigation or any financial,
accounting, legal or regulatory issues that may affect CCP or its
tenants or borrowers; and (s) changes in accounting principles, or
their application or interpretation, and CCP’s ability to make
estimates and the assumptions underlying the estimates, which could
have an effect on CCP’s earnings. Many of these factors are beyond
the control of CCP and its management.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201005373/en/
Care Capital Properties, Inc.Lori B. Wittman,
312-881-4702Executive Vice President and Chief Financial
Officerlwittman@carecapitalproperties.com
Care Capital Properties, Inc. (delisted) (NYSE:CCP)
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