Global Medical REIT (NYSEMKT:GMRE) priced an underwritten public offering of 3.5M common shares at $9/share for gross proceeds of $31.5M.
Underwriters have a 30-day option to purchase an additional 0.525M common shares.
Net proceeds will be used to repay outstanding indebtedness under its amended and restated revolving credit facility, to fund acquisitions and for other general corporate purposes.
The offering is expected to close on December 14, 2018.
GMRE -6.19% premarket to $8.94
Source: Press Release
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