BETHESDA, Md.--(BUSINESS WIRE)--Global Medical REIT Inc. (NYSE:GMRE) announced the commencement of an underwritten public offering of its Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share, subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional shares of Series A Preferred Stock to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include funding new acquisitions, and repaying indebtedness.
FBR Capital Markets & Co., a B. Riley Financial Company, and Janney Montgomery Scott are serving as the book-running managers for the offering. BB&T Capital Markets, Compass Point and D.A. Davidson & Co. are serving as co-managers.
About Global Medical REIT Inc.
Global Medical REIT Inc. is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company intends to produce increasing, reliable rental revenue by expanding its portfolio, and leasing each of its healthcare facilities to market-leading operators under a long-term triple-net lease. The Company’s management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers. The Company intends to elect to be taxed as a REIT for U.S. federal income tax purposes, commencing with its taxable year ended December 31, 2016.