17,250,000 Common Shares Sold at $18.20 Per
Share; Net Proceeds of Approximately $300.7 Million
Physicians Realty Trust (NYSE:DOC) (“the Company”), a
self-managed healthcare real estate company, announced today the
closing of its underwritten public offering of 17,250,000 common
shares of beneficial interest, including 2,250,000 common shares
issued pursuant to the exercise of an option to purchase additional
common shares granted to the underwriters, at a public offering
price per share of $18.20.
The Company will contribute the net proceeds of this offering to
its operating partnership, Physicians Realty L.P., a Delaware
limited partnership (the “Operating Partnership”), in exchange for
common units in its Operating Partnership. The Operating
Partnership intends to use the net proceeds of the offering to
repay a portion of its borrowings under its unsecured credit
facility, to fund its pending acquisitions and for general
corporate purposes, including, without limitation, working capital
and investment in real estate.
Morgan Stanley, KeyBanc Capital Markets, BofA Merrill Lynch, BMO
Capital Markets, Raymond James, RBC Capital Markets and Stifel
acted as book-running managers for the offering. Wunderlich, Credit
Agricole CIB, PNC Capital Markets LLC, Regions Securities LLC,
Ramirez & Co., Inc., BB&T Capital Markets, Canaccord
Genuity, Comerica Securities, Compass Point, J.J.B. Hilliard, W.L.
Lyons, LLC, Synovus Securities, Inc. and The Huntington Investment
Company acted as co-managers for the offering.
The offering was being made pursuant to the Company’s automatic
shelf registration statement filed with the Securities and Exchange
Commission (the “Commission”), which became effective on February
24, 2017. Copies of the prospectus supplement and accompanying
prospectus may be obtained from the Commission’s website at
www.sec.gov or by contacting: Morgan Stanley at 180 Varick Street,
2nd Floor – New York, NY 10014, Attn: Prospectus Department;
KeyBanc Capital Markets at 127 Public Square, 4th Floor, Cleveland,
Ohio 44114, Attn: Equity Syndicate, or by telephone at (800)
859-1783; or BofA Merrill Lynch, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus
Department or by email at: dg.prospectus_requests@baml.com.
This press release is not an offer to sell, nor a solicitation
of an offer to buy the securities, nor shall there be any sale of
these securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Physicians Realty Trust
Physicians Realty Trust is a self-managed healthcare real estate
company organized to acquire, selectively develop, own and manage
healthcare properties that are leased to physicians, hospitals and
healthcare delivery systems. The Company invests in real estate
that is integral to providing high quality healthcare. The Company
is a Maryland real estate investment trust and has elected to be
taxed as a REIT for U.S. federal income tax purposes. The Company
conducts its business through an UPREIT structure in which its
properties are owned by the Operating Partnership, directly or
through limited partnerships, limited liability companies or other
subsidiaries.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”,
and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward looking statements include any
statements regarding the Company’s strategic and operational plans.
Forward looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward looking statements are based on
information available at the time those statements are made and/or
management’s good faith belief as of that time with respect to
future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in or suggested by the forward looking statements.
These forward looking statements include any statements regarding
the Company’s strategic and operational plans. These
forward-looking statements are subject to various risks and
uncertainties, not all of which are known to the Company and many
of which are beyond the Company’s control, which could cause actual
results to differ materially from such statements. These risks and
uncertainties are described in greater detail in the Company’s
filings with the Commission, including, without limitation, the
Company’s annual and periodic reports and other documents filed
with the Commission. Unless legally required, the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or otherwise. Completion
of the offering on the terms described, and the application of net
proceeds, are subject to numerous conditions, many of which are
beyond the control of the Company, including, without limitation,
general economic conditions, market conditions and other factors,
including those factors discussed in the preliminary prospectus
supplement and accompanying prospectus and in the Company’s annual
and periodic reports and other documents filed with the Commission,
copies of which are available on the Commission’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements after the date of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170317005622/en/
Physicians Realty TrustJohn T. Thomas, 214-549-6611President and
CEOjtt@docreit.comorJeffrey N. Theiler, 414-367-5610Executive Vice
President and CFOjnt@docreit.com
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