A Medical Device Daily
BioMed Realty Trust, (San Diego) said the pricing of its public offering of 16 million 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 nearly $166.4 million.
BioMed expects to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $600 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 also has 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 (St. Petersburg, Florida), KeyBanc Capital Markets, Morgan Stanley & Co. (New York), UBS Securities (Zurich, Switzerland) Wachovia Capital Markets, (Charlotte, North Carolina) and Credit Suisse Securities (New York) are the joint bookrunning managers for the offering.