BETHESDA, Md.--(BUSINESS WIRE)--Global Medical REIT Inc. (NYSE:GMRE) announced that on September 15, 2017 it closed on the issuance of 3,105,000 shares of its Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share, inclusive of 405,000 shares of Series A Preferred Stock issued in connection with the underwriters’ exercise of their over-allotment option, raising aggregate net proceeds of approximately $75 million, after deducting underwriting discounts and commissions and estimated offering expenses paid or payable by the Company. The Series A Preferred Stock has an initial liquidation preference of $25 per share. The Company expects trading of the Series A Preferred Stock on the New York Stock Exchange to commence on October 16, 2017 under the symbol “GMRE PrA.”

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 served as the book-running managers for the offering. BB&T Capital Markets, Compass Point and D.A. Davidson & Co. served 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.