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Global Medical REIT prices common stock offering

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Global Medical REIT prices common stock offering

Global Medical REIT Inc. priced its offering of 3.5 million shares of common stock at $9.00 per share for gross proceeds of $31.5 million.

Underwriters have a 30-day option to purchase another 525,000 shares, which would bring gross proceeds to $36.2 million if fully exercised.

Global Medical REIT intends to use the net proceeds from the offering to repay outstanding amounts on its revolving credit facility, for acquisitions and for other general corporate purposes.

Stifel Nicolaus & Co. Inc. and BMO Capital Markets Corp. are serving as the offering's joint book-running managers.

The offering is expected to close Dec. 14.