BioMed Realty Trust Prices 11.5 Million Common Shares
April 15, 2010 (FinancialWire) — BioMed Realty Trust, Inc. (NYSE: BMR) has priced a public offering of 11.5 million shares of its common stock at $17.25 per share.
The offering is scheduled to close on or about April 19. The company said it expects to see gross proceeds of around $198.4 million.
BioMed plans to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $720.0 million unsecured line of credit and for other general corporate and working capital purposes.
All of the shares are being sold by the company.
BioMed has also granted the underwriters a 30-day option to purchase up to an additional 1.725 million shares to cover over-allotments.
California-based BioMed Realty Trust is a real estate investment trust whose tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry.
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