Global Medical REIT Inc. Announces Pricing of Public Offering of 8.00% Series B Preferred Stock
BETHESDA, Md.–(BUSINESS WIRE)–Global Medical REIT Inc. (NYSE:GMRE) (the “Company”) today announced the pricing of the underwritten public offering of 2,000,000 shares of its 8.00% Series B Cumulative Redeemable Preferred Stock, $0.001 par value per share (“Series B Preferred Stock”). The Series B Preferred Stock has an initial liquidation preference of $25.00 per share. The offering is expected to close on November 20, 2025, subject to customary closing conditions. The Company expects to receive gross proceeds of approximately $50,000,000, before deducting underwriting discounts and commissions and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of Series B Preferred Stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include funding new acquisitions and repaying indebtedness, including amounts outstanding under the Company’s credit facility.
The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol “GMRE PrB.”
Raymond James, BMO Capital Markets, Stifel and Baird are serving as the book-running managers for the offering. Janney Montgomery Scott, B. Riley Securities, Ladenburg Thalmann, Berenberg and Colliers Securities LLC are serving as co-managers.
The offering is being made pursuant to the Company’s shelf registration statement, as amended, which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on April 4, 2024. Copies of the final prospectus supplement and accompanying prospectus relating to this offering, which will be filed with the SEC may be obtained from the SEC’s website at www.sec.gov or by contacting: Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863, or by email at [email protected]; BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, 1201 Wills Street, Suite 600, Baltimore, MD 21231, or by email at [email protected]; and Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, telephone: 800-792-2473, email: [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these shares or any other securities in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.
About Global Medical REIT Inc.
Global Medical REIT Inc. is a net-lease medical REIT that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.
Forward-Looking Statements
Certain statements contained in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is the Company’s intent that any such statements be protected by the safe harbor created thereby. Examples of forward-looking statements in this press release include statements regarding the expected closing of the offering, the expected use of proceeds from the offering and the listing of shares of Series B Preferred Stock on the New York Stock Exchange. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “plan,” “predict,” “project,” “will,” “continue” and other similar terms and phrases, including references to assumptions and forecasts of future results. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although the Company believes that the expectations, estimates and assumptions reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of the Company’s forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially and adversely affect its financial results, include, without limitation, the risks described under Part I, Item 1A – Risk Factors, in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in its other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statement.
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KEYWORDS: United States North America District of Columbia Maryland
INDUSTRY KEYWORDS: Professional Services Health Commercial Building & Real Estate Finance Construction & Property General Health REIT
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