BioMed Realty Trust Inc., a life science property owner with a large presence around Boston, has priced its public offering of 11.5 million shares of its common stock at $17.25 per share.

The offering is expected to close on or about April 19. Gross proceeds from the offering will be approximately $198.4 million. BioMed expects to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $720 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 1.7 million shares to cover over-allotments, if any. Raymond James & Assoc. Inc., Morgan Stanley & Co. Inc., UBS Securities LLC, Wells Fargo Securities LLC and KeyBanc Capital Markets Inc. are the joint book-running managers for the offering.

BioMed Realty Trust Prices Public Offering Of 11.5M Shares

by Banker & Tradesman time to read: 1 min
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