BioMed Realty Trust, Inc. (NYSE: BMR - News) today announced the pricing of its public offering of 16,000,000 shares of its common stock at $10.40 per share. The offering is expected to close on or about May 18, 2009. Gross proceeds from the offering will be approximately $166.4 million.
BioMed expects to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $600.0 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 2,400,000 shares to cover over-allotments, if any. Raymond James & Associates, Inc., KeyBanc Capital Markets Inc., Morgan Stanley & Co. Incorporated, UBS Securities LLC, Wachovia Capital Markets, LLC and Credit Suisse Securities (USA) LLC are the joint book-running managers for the offering
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