BioMed Realty Trust issued a public offering of 6.9 million shares of common stock priced at $28.75 per share Aug. 16.
The proceeds of the offering will total roughly $199.8 million and will be used to pay down outstanding debts from its $500 million revolving credit facility.
Underwriters will be granted a 30-day option to purchase more than 1 million shares to cover over-allotments.
The offering is expected to close Aug. 21.
San Diego-based BioMed Realty Trust is a real estate investment trust with a focus on life sciences. BioMed is traded on the New York Stock Exchange under the ticker symbol BMR and closed Aug. 15 at $29.34, up 47 cents from the previous day.
, Andy Killion