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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, May 21, 9:20 AM
| This Slide: #512 of 581 |
Slide #512. BioMed Realty Trust, Inc. — Preferred Stock Offering
Company:
BioMed Realty Trust, Inc. (BMR)
Date announced:
2/12/2013
Shares Offered:
12,700,000
Date of Pricing:
2/13/2013
Price Per Share:
$20.50
Closed Date:
2/19/2013
Date of Over-Allotment Closing:
2/19/2013
Final Completed Deal Size:
14,605,000
Preferred Stock Offering Details:
BioMed Realty Trust, Inc. (NYSE: BMR) today announced it has commenced a public offering of 11,500,000 shares of its common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. BioMed Realty expects to use the net proceeds of the offering to fund a recently announced property acquisition, to fund a portion of the redemption of all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes. All of the shares will be offered by the company. BioMed Realty also expects to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of its common stock. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers for the offering. -- updated 2/13/13 -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced the pricing of its public offering of 12,700,000 shares of its common stock at $20.50 per share. The offering is expected to close on or about February 19, 2013. The gross proceeds from the offering will be approximately $260.4 million. BioMed Realty expects to use the net proceeds of the offering to fund a recently announced property acquisition, to fund a portion of the redemption of all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes. All of the shares are being sold by the company. BioMed Realty has also granted the underwriters a 30-day option to purchase up to an additional 1,905,000 shares of its common stock. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers for the offering.
BioMed Realty Trust is a self-administered and self-managed real estate investment trust. Co. is engaged in acquiring, developing, redeveloping, leasing and managing laboratory and office space for the life science industry principally through its subsidiary, BioMed Realty, L.P. Co.'s tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. Co.'s properties are generally located in markets known as centers for scientific research, including Boston, San Francisco, San Diego, Maryland, New York/New Jersey, Pennsylvania, North Carolina, Seattle, and Cambridge (the U.K).
Preferred: BMR.PRA
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 56th percentile
(ranked higher than approx. 56% of all stocks covered)
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