Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Digital Angel Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. (HPQ) said Wednesday after the markets closed that its third quarter profit fell 29% from last year, hurt mainly by higher restructuring charges even as revenue grew 1%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue beat analysts' forecast. Stocks fluctuated over the course of the trading day on Wednesday before ending the session mostly higher. The Dow and the S&P 500 both finished the day in positive territory, although the tech-heavy Nasdaq posted a modest loss. President Barack Obama spoke harshly of the terrorist group allegedly responsible for the execution of American freelance journalist James Foley in a statement on Wednesday. Obama described the group known as the Islamic State of Iraq and the Levant, or ISIL, as a cancer that needs to be extracted.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.