BioMed Realty Trust Prices Public Offering of 5,700,000 Shares of Common Stock

Friday, April 18, 2008 General News
Email Print This Page Comment bookmark
Font : A-A+

SAN DIEGO, April 17 BioMed Realty Trust, Inc.(NYSE: BMR) today announced the pricing of its public offering of 5,700,000shares of common stock at $25.50 per share. The offering is expected to closeon or about April 22, 2008. Gross proceeds from the offering will beapproximately $145.4 million. BioMed expects to use the net proceeds of theoffering to repay a portion of the outstanding indebtedness under its $600.0million unsecured line of credit and for other general corporate and workingcapital purposes. All of the shares are being sold by the company.

The underwriters for the offering are Raymond James & Associates, Inc.,Morgan Stanley & Co. Incorporated, Wachovia Capital Markets, LLC, KeyBancCapital Markets Inc., Robert W. Baird & Co. Incorporated, Credit SuisseSecurities (USA) LLC, RBC Capital Markets Corporation and Stifel, Nicolaus &Company, Incorporated. BioMed has also granted the underwriters a 30-dayoption to purchase up to an additional 855,000 shares to coverover-allotments, if any.

The registration statement relating to these securities has becomeeffective by rule of the Securities and Exchange Commission. This pressrelease shall not constitute an offer to sell or the solicitation of an offerto buy any of BioMed's common stock, nor shall there be any sale of suchcommon stock in any state in which such offer, solicitation, or sale would beunlawful prior to registration or qualification under the securities laws ofsuch state. The offering of BioMed's common stock will be made only by meansof a prospectus and a related prospectus supplement, copies of which, whenavailable, may be obtained by contacting Raymond James & Associates, Inc.,880 Carillon Parkway, St. Petersburg, FL 33716, or by calling toll-free at1 (800) 248-8863.

About BioMed Realty Trust

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focusedon Providing Real Estate to the Life Science Industry(R). The company'stenants primarily include biotechnology and pharmaceutical companies,scientific research institutions, government agencies and other entitiesinvolved in the life science industry. BioMed Realty Trust owns or hasinterests in 68 properties, representing 104 buildings with approximately8.5 million rentable square feet, as well as approximately 1.9 million squarefeet of development in progress. These properties are located predominantly inthe major U.S. life science markets of Boston, San Diego, San Francisco,Seattle, Maryland, Pennsylvania and New York/New Jersey, which havewell-established reputations as centers for scientific research. Additionalinformation is available at httpt://

This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995 based on currentexpectations, forecasts and assumptions that involve risks and uncertaintiesthat could cause actual outcomes and results to differ materially. These risksand uncertainties include, without limitation: general risks affecting thereal estate industry (including, without limitation, the inability to enterinto or renew leases, dependence on tenants' financial condition, andcompetition from other developers, owners and operators of real estate);adverse economic or real estate developments in the life science industry orthe company's target markets; risks associated with the availability and termsof financing and the use of debt to fund acquisitions and developments;failure to manage effectively the company's growth and expansion into newmarkets, or to complete or integrate acquisitions and developmentssuccessfully; risks and uncertainties affecting property development andconstruction; risks associated with downturns in the national and localeconomies, increases in interest rates, and volatility in the securitiesmarkets; potential liability for uninsured losses and environmentalcontaminati

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store