logo
Share SHARE
FONT-SIZE Plus   Neg

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

Physicians Realty Trust (DOC) 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

Quick Facts

Editors Pick
Senate Republicans appear poised to approve a budget resolution that will serve as the legislative vehicle for their tax reform plan. The non-binding budget resolution unlocks the reconciliation process, allowing Republicans to pass their tax reform plan with a simple 51-vote majority in the Senate. President Donald Trump intends to nominate antitrust attorney Joseph Simons as chairman of the Federal Trade Commission, the White House announced on Thursday. Simons, who served as an FTC official under President George W. Bush, is currently a partner and co-chair of the antitrust group at law firm Paul Weiss. Less than four months after its debut on the New York Stock Exchange, Blue Apron Holdings Inc. said it is laying off 6 percent of its workforce. In a regulatory filing on Wednesday, the embattled meal-kit delivery company said it has implemented a company-wide realignment of personnel to support its strategic priorities.
comments powered by Disqus
Follow RTT