Global Medical REIT Inc. Announces Closing of Series A Preferred Stock Offering and Over-Allotment Option
September 18 2017 - 8:30AM
Business Wire
Global Medical REIT Inc. (NYSE:GMRE) (the “Company”),
today announced that on September 15, 2017 it closed on the
issuance of 3,105,000 shares of its Series A Cumulative Redeemable
Preferred Stock, $0.001 par value per share (“Series A Preferred
Stock”), inclusive of 405,000 shares of Series A Preferred Stock
issued in connection with the underwriters’ exercise of their
over-allotment option, raising aggregate net proceeds of
approximately $75 million, after deducting underwriting discounts
and commissions and estimated offering expenses paid or payable by
the Company. The Series A Preferred Stock has an initial
liquidation preference of $25 per share. The Company expects
trading of the Series A Preferred Stock on the New York Stock
Exchange to commence on October 16, 2017 under the symbol “GMRE
PrA.”
The Company intends to use the net proceeds from this offering
for general corporate purposes, which may include funding new
acquisitions, and repaying indebtedness.
FBR Capital Markets & Co., a B. Riley Financial Company, and
Janney Montgomery Scott served as the book-running managers for the
offering. BB&T Capital Markets, Compass Point and D.A. Davidson
& Co. served as co-managers.
The offering was made 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: FBR Capital Markets
& Co., 1300 North 17th Street, Suite 1400, Arlington, Virginia
22209 or by email at prospectuses@fbr.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 Securities Exchange Act
of 1934, as amended, 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 SEC,
including, without limitation, the Company’s annual and periodic
reports and other documents filed with the SEC. 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/20170918005399/en/
Investor Relations CounselThe Equity Group Inc.Jeremy Hellman,
212-836-9626Senior Associatejhellman@equityny.comorAdam Prior,
212-836-9606Senior Vice Presidentaprior@equityny.com
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