BETHESDA, MD–Global Medical REIT has priced its public offering of 2.7 million shares of its preferred stock, netting $65.2 million.
The offering is expected to close on September 15, 2017, subject to customary closing conditions. The REIT has granted the underwriters a 30-day option to purchase up to an additional 405,000 shares of the stock at the public offering price to cover over-allotments, if any.
Global Medical REIT intends to use the proceeds from this offering for general corporate purposes, including funding new acquisitions, and repaying indebtedness.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
