Physicians Realty Trust Announces Closing of Upsized Public Offering of Common Shares
12 April 2016 - 9:18AM
Business Wire
25,875,000 Common Shares Sold at $17.85 Per
Share; Net Proceeds of Approximately $442.7 Million
Physicians Realty Trust (NYSE:DOC) (“the Company”), a
self-managed healthcare real estate company, announced today the
closing of its upsized underwritten public offering of 25,875,000
common shares of beneficial interest, including 3,375,000 common
shares issued pursuant to the exercise of an option to purchase
additional common shares granted to the underwriters, at a price
per share of $17.85.
The Company will contribute the net proceeds of this offering to
its operating partnership (as defined below) in exchange for common
units in its operating partnership. The Company’s operating
partnership intends to use the net proceeds of the offering (i) to
fund a portion of the purchase price for the acquisition of a
portfolio of 52 medical office buildings owned by certain
subsidiaries and affiliates of Catholic Health Initiatives, and
(ii) for general corporate purposes, including, without limitation,
working capital and investment in real estate.
KeyBanc Capital Markets, BofA Merrill Lynch, RBC Capital
Markets, BMO Capital Markets, Raymond James and Stifel acted as
book-running managers for the offering. Regions Securities LLC,
Credit Agricole CIB, PNC Capital Markets LLC, Wunderlich, BB&T
Capital Markets, A Division of BB&T Securities, LLC, Comerica
Securities, Ramirez & Co., Inc., Compass Point, J.J.B.
Hilliard, W.L. Lyons, LLC, Synovus Securities, Inc. and The
Huntington Investment Company acted as co-managers for the
offering.
The offering was made pursuant to the Company’s automatic shelf
registration statement filed with the Securities and Exchange
Commission (the “Commission”), which became effective on June 17,
2015. Copies of the prospectus supplement and accompanying
prospectus may be obtained from the Commission’s website at
www.sec.gov or by contacting: KeyBanc Capital Markets Inc., 127
Public Square, 4th Floor, Cleveland, OH 44114; BofA Merrill Lynch,
222 Broadway, New York, NY 10038, Attn: Prospectus Department,
dg.prospectus_requests@baml.com; or RBC Capital Markets, LLC, 200
Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity
Syndicate; Phone: 877-822-4089; Email:
equityprospectus@rbccm.com.
This press release is not an offer to sell, nor a solicitation
of an offer to buy securities, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Physicians Realty Trust
Physicians Realty Trust is a self-managed healthcare real estate
company organized to acquire, selectively develop, own and manage
healthcare properties that are leased to physicians, hospitals and
healthcare delivery systems. The Company invests in real estate
that is integral to providing high quality healthcare. The Company
is a Maryland real estate investment trust and has elected to be
taxed as a REIT for U.S. federal income tax purposes. The Company
conducts its business through an UPREIT structure in which its
properties are owned by Physicians Realty L.P., a Delaware limited
partnership (the “operating partnership”), directly or through
limited partnerships, limited liability companies or other
subsidiaries.
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. These forward looking statements include any
statements regarding the Company’s strategic and operational plans.
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 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. Completion of the offering on the terms described,
and the application of net proceeds, are subject to numerous
conditions, many of which are beyond the control of the Company,
including, without limitation, general economic conditions, market
conditions and other factors, including those factors discussed in
the preliminary prospectus supplement and accompanying prospectus
and in the Company’s annual and periodic reports and other
documents filed with the Commission, copies of which are available
on the Commission’s website, www.sec.gov. 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/20160411006262/en/
Physicians Realty TrustJohn T.
Thomas, 214-549-6611President and CEOorJeff N. Theiler,
414-367-5610Executive Vice President and CFO
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