Attached files
file | filename |
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8-K - FORM 8-K - AMERICAN CAMPUS COMMUNITIES INC | d73205e8vk.htm |
EX-5 - EX-5 - AMERICAN CAMPUS COMMUNITIES INC | d73205exv5.htm |
EX-1.2 - EX-1.2 - AMERICAN CAMPUS COMMUNITIES INC | d73205exv1w2.htm |
EX-1.3 - EX-1.3 - AMERICAN CAMPUS COMMUNITIES INC | d73205exv1w3.htm |
EX-1.1 - EX-1.1 - AMERICAN CAMPUS COMMUNITIES INC | d73205exv1w1.htm |
Exhibit 99.1
MEDIA RELEASE |
American Campus Communities, Inc. Announces At-the-Market Equity Program
AUSTIN, Texas May 19, 2010 American Campus Communities Inc. (NYSE:ACC), one of the nations
largest developers, owners and managers of high-quality student housing properties, today announced
it has created an at-the-market equity program under which it may sell common stock with an
aggregate offering price of up to $150 million from time to time through BofA Merrill Lynch, J.P.
Morgan Securities Inc. and KeyBanc Capital Markets Inc., as sales agents and/or principals.
Sales of common stock under the at-the-market equity program, if any, would be made by means of
ordinary brokers transactions, including on the New York Stock Exchange, at market prices or as
otherwise agreed with the agents. The company intends to use the proceeds from any sales for
working capital and general corporate purposes, including, without limitation, the acquisition or
development of student housing properties (including possible joint ventures or portfolio or asset
acquisitions) as suitable opportunities arise, and the reduction of debt.
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 at-the market equity program and
other documents the company has filed with the SEC for more complete information about it and the
at-the-market 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, 4 World
Financial Center, New York, New York 10080, Attn: Preliminary Prospectus Department or email
Prospectus.Requests@ml.com; J.P. Morgan Securities Inc., Attention: National Statement Processing,
Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, New York, 11245, telephone:
212-622-4401; or KeyBanc Capital Markets Inc., 127 Public Square, 6th Floor, Cleveland,
Ohio 44114, telephone: (216) 689-0421.
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 at-the-market offering may be
made only by means of a prospectus supplement and the related prospectus.
About American Campus Communities
American Campus Communities Inc. is one of the largest developers, owners and managers 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. American Campus Communities owns 84 student housing properties containing
approximately 51,600 beds. The company also owns a minority interest in 18 joint venture
properties containing approximately 9,800 beds. Including its owned,
joint venture and third-party
managed properties, ACCs total managed portfolio consists of 135 properties with approximately
86,200 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 operates, managements 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.
Contact:
American Campus Communities Inc., Austin
Gina Cowart, 512-732-1000
Investor Relations
American Campus Communities Inc., Austin
Gina Cowart, 512-732-1000
Investor Relations