American Campus Communities, Inc. Announces
Sale of Common Stock
August 16, 2010 07:09 PM Eastern Daylight Time
AUSTIN, Texas--(EON: Enhanced Online News)--American Campus Communities, Inc. (NYSE:ACC), one of
the nation's largest developers, owners and managers of high-quality student housing properties, today announced
the pricing of a public offering of 12,000,000 shares of its common stock at a price of $27.00 per share. The
company also granted the underwriters an option to purchase up to an additional 1,800,000 shares of common
stock to cover overallotments, if any. Subject to customary closing conditions, the offering is expected to close on or
about August 20, 2010.
The estimated net proceeds to the company from the offering, before giving effect to any exercise of the
underwriters’ overallotment option, are expected to be $310.8 million after deducting the underwriting discount and
estimated offering expenses payable by the company. The company intends to use the net proceeds from the offering
to fund the previously announced acquisition of the 90% interest not currently owned by it in 14 of the properties in
an existing joint venture portfolio, to fund its development pipeline and other opportunistic acquisitions, to repay
debt, including the outstanding balance of its revolving credit facility, and for general corporate purposes.
BofA Merrill Lynch, KeyBanc Capital Markets, Deutsche Bank Securities and J.P. Morgan served as joint book-
running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. A copy of the prospectus relating to the offering may be
obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn:
Prospectus Department or email dg.prospectus_requests@