Every 424B that EPR Properties (EPR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow EPR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EPR filings page.
EPR Properties is launching an at-the-market equity program to offer and sell up to $400,000,000 of its common shares from time to time through a group of sales agents and related forward sale arrangements. Shares may be sold on the NYSE or in negotiated transactions, with the company paying sales agents a commission of up to 2.0% of the gross sales price.
The company may also enter into forward sale agreements under which affiliated forward sellers borrow and sell EPR common shares, with EPR expecting to physically settle these contracts later by delivering shares for cash based on the agreed forward sale price. Net proceeds EPR receives from direct sales and from settling any forward agreements are intended for general corporate purposes, including funding its acquisition and build-to-suit pipeline, working capital, and reducing indebtedness such as borrowings under its unsecured revolving credit facility.
EPR Properties is offering $550,000,000 aggregate principal amount of 4.750% Senior Notes due 2030. The notes price at 98.800% with a 0.600% underwriting discount, resulting in approximately $540.1 million in proceeds before expenses and expected net proceeds of $538.3 million. Interest is payable semi-annually on May 15 and November 15, beginning May 15, 2026, and the notes mature on November 15, 2030.
The notes are senior unsecured, pari passu with EPR’s other senior unsecured debt and effectively subordinated to secured debt and structurally subordinated to subsidiary obligations. EPR may redeem the notes at the make-whole price before the Par Call Date (October 15, 2030), and at 100% thereafter. EPR intends to use net proceeds to repay borrowings under its unsecured revolving credit facility and for general corporate purposes; the facility had approximately $368.0 million outstanding at an interest rate of 5.29% as of October 31, 2025. The notes will not be listed; settlement is expected around November 13, 2025.
EPR Properties launched a preliminary prospectus supplement for a primary offering of senior unsecured notes. The notes will be pari passu with the company’s existing senior unsecured notes and effectively subordinated to secured debt and structurally subordinated to subsidiary liabilities. The notes include optional redemption provisions and will be issued in book-entry form through DTC; they will not be listed on an exchange.
The company expects to use net proceeds to repay borrowings under its unsecured revolving credit facility and for general business purposes. As of September 30, 2025, total debt outstanding was $2.8 billion, and as of October 31, 2025, borrowings under the unsecured revolving credit facility were $368.0 million at an interest rate of 5.29%. Covenants include limits on total and secured debt, minimum coverage, and maintenance of unencumbered assets. Investors should review the risk factors regarding leverage, market liquidity for the notes, and interest rate sensitivity.