Physicians Realty Trust Prices Offering Of 16.5 Mln Shares At $16.40 Per Share

(RTTNews) - Physicians Realty Trust (DOC) announced the pricing of an underwritten public offering of 16.5 million common shares of beneficial interest at a price of $16.40 per share. The offering is for net proceeds of about $258.3 million, after deducting the underwriting discount and commissions and estimated offering expenses payable by the company.

All the common shares are being offered by the company and will trade on the NYSE under the ticker symbol "DOC."

The company has granted the underwriters a 30-day option to purchase up to an additional 2.48 million common shares. The offering is expected to close on January 21.

The company will contribute the net proceeds of this offering to its operating partnership in exchange for common units in the partnership.

The partnership intends to use the net proceeds to repay borrowings under the company's unsecured credit facility and for general corporate and working capital purposes, funding possible future acquisitions, including a portion of the company's pending acquisitions, and development activities.

KeyBanc Capital Markets, Morgan Stanley, RBC Capital Markets, BofA Merrill Lynch and BMO Capital Markets are serving as joint book-running managers for the offering.

Raymond James, Wunderlich Securities, Comerica Securities, Compass Point, J.J.B. Hilliard, W.L. Lyons, LLC, MLV & Co. and Regions Securities LLC are serving as co-managers.