Global Medical REIT Inc. Announces Closing of Over-Allotment Option from Recent Common Stock Offering
July 21 2017 - 8:30AM
Business Wire
Global Medical REIT Inc. (NYSE:GMRE) (the “Company”),
today announced that on July 20, 2017 it closed on the issuance of
an additional 525,000 shares of its common stock at the public
offering price of $9.00 per share, for total gross proceeds of
approximately $4.7 million. This issuance was pursuant to the
exercise of the underwriters’ over-allotment option following the
Company’s previously announced public offering of 3.5 million
shares of its common stock at a public offering price of $9.00 per
share that closed on June 30, 2017. After giving effect to the
initial offering and the full exercise of this over-allotment
option, the total number of shares of common stock sold by the
Company in the public offering was 4,025,000 shares and gross
proceeds were approximately $36.2 million.
Janney Montgomery Scott, Wunderlich and BMO Capital Markets
served as joint book-running managers for the offering. BB&T
Capital Markets, D.A. Davidson & Co. and Oppenheimer & Co.
served as co-managers for the offering.
All of the shares of common stock were issued pursuant to the
Company's shelf registration statement, which was declared
effective by the U.S. Securities and Exchange Commission
("SEC") on June 19, 2017. Copies of the final prospectus
supplement and accompanying prospectus may be obtained from
the SEC's website at www.sec.gov or by contacting: Janney
Montgomery Scott LLC, 1717 Arch Street, Philadelphia,
Pennsylvania 19103 or by email at prospectus@janney.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these shares or any other 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
state.
About Global Medical REIT Inc.
Global Medical REIT Inc. is a Maryland corporation engaged
primarily in the acquisition of licensed, state-of-the-art,
purpose-built healthcare facilities and the leasing of these
facilities to strong clinical operators with leading market share.
The Company intends to produce increasing, reliable rental revenue
by expanding its portfolio, and leasing each of its healthcare
facilities to market-leading operators under a long-term triple-net
lease. The Company’s management team has significant healthcare,
real estate and public real estate investment trust, or REIT,
experience and has long-established relationships with a wide range
of healthcare providers. The Company intends to elect to be taxed
as a REIT for U.S. federal income tax purposes, commencing with its
taxable year ended December 31, 2016.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Exchange Act, pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “anticipate”, “believe”, “expect”,
“estimate”, “plan”, “outlook”, and “project” and other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. Forward-looking
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by, which such performance or results will be
achieved. Forward-looking statements are based on information
available at the time those statements are made and/or management’s
good faith belief as of that time with respect to future events.
These forward-looking statements are subject to various risks and
uncertainties, not all of which are known to the Company and many
of which are beyond the Company’s control, which could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. These risks and
uncertainties are described in greater detail in the Company’s
filings with the United States Securities and Exchange Commission
(the “Commission”), including, without limitation, the Company’s
annual and periodic reports and other documents filed with the
Commission. Unless legally required, the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. The Company
undertakes no obligation to update these statements after the date
of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170721005129/en/
Investor Relations CounselThe Equity Group Inc.Jeremy Hellman,
Senior Associate(212) 836-9626 / jhellman@equityny.comAdam Prior, Senior Vice
President(212) 836-9606 / aprior@equityny.com
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