Physicians Realty Trust Plans To Offer 8.3 Mln Shares

(RTTNews) - Physicians Realty Trust (DOC) said Monday that it plans to offer and sell up to 8.3 million common shares of beneficial interest.

The company has granted the underwriters a 30-day option to purchase up to an additional 1.245 million shares to cover overallotments, if any.

The offering is expected to close on December 5.

The company said it will contribute the net proceeds of the offering to its operating partnership in exchange for OP units in its operating partnership. The operating partnership plans to use the net proceeds received from the company to repay about $48.4 million of borrowings under the operating partnership's senior secured credit facility and for working capital purposes, including possible future acquisitions and development activities.