logo
Share SHARE
FONT-SIZE Plus   Neg

Physicians Realty Trust Prices Upsized IPO At $11.50/share - Quick Facts

Physicians Realty Trust (DOC: Quote) announced the pricing of its initial public offering of 10.43 million common shares of beneficial interest, at a price to the public of $11.50 per share, for a total of about $109.8 million of net proceeds after deducting underwriting discounts and commissions and estimated offering expenses payable by the company. According to recent regulatory filings, the company planned to offer 8.00 million shares in the range of $11.50 to $13.50 per share.

All of the shares are being offered by the company. The shares will be listed on the New York Stock Exchange under the symbol "DOC."

The offering is expected to close on July 24, 2013. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,565,216 shares to cover overallotments, if any.

The company said it will contribute the net proceeds of the offering to its operating partnership in exchange for OP units in its operating partnership. The operating partnership intends to use the net proceeds received from the Company to repay certain indebtedness, purchase the remaining equity interest in the entity that owns one of the Company's properties, pay certain debt transfer fees and fees related to the Company's anticipated credit facility and general corporate and working capital purposes, including expenses associated with the Company's formation transactions and possible future acquisitions and development activities.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management. To commemorate the launch of Hubble telescope twenty-five year ago, NASA unveiled celestial fireworks as official image, marked by brilliant tapestry of young stars flaring to life. Abercrombie & Fitch said it would stop hiring store employees based on their body type or physical attractiveness, and that its events, including store openings, will no longer have the presence of shirtless models.
comments powered by Disqus
Follow RTT