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GMH Registers to Resell Shareholder Stock

NEWTOWN SQUARE, PA-The specialty REIT files an SEC registration for an offering valued at $346.9 million from the resale of 34.1 million shares.

By Marita Thomas | Updated on April 30, 2007

NEWTOWN SQUARE, PA-GMH Communities Trust has filed a registration statement with the SEC for an offering of up to approximately 34.1 million shares of common stock by certain selling shareholders. According to the filing, the proposed offering share price is $10.16 per share, which was the share price of GCT on the NYSE on April 20.

This represents an aggregate value of about $346.9 million. The company will not receive any of the proceeds from the resale, which can take place “from time to time,” according to the filing. No underwriters are listed in the registration.

The selling shareholders named in the SEC document either currently own the shares they are offering or may acquire them by converting their units of limited partnership interest in GMH Communities LP, the company’s operating partnership, into common stock. The offer consists of approximately 31.6 million shares issuable upon conversion of limited partnership interests and about 2.5 million shares that are currently outstanding.

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