|By PR Newswire||
|February 12, 2013 04:02 PM EST||
SAN DIEGO, Calif., Feb. 12, 2013 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced it has commenced a public offering of 11,500,000 shares of its common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. BioMed Realty expects to use the net proceeds of the offering to fund a recently announced property acquisition, to fund a portion of the redemption of all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes. All of the shares will be offered by the company.
BioMed Realty also expects to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of its common stock. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered shares, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. The offering of BioMed Realty's common stock will be made only by means of a prospectus and a related prospectus supplement, copies of which, when available, may be obtained by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, at 1-866-718-1649 or by email at email@example.com; Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, by calling toll-free at 1-800-248-8863 or by email at firstname.lastname@example.org; UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or toll-free at 1-888-827-7275; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, at 1-800-326-5897 or by email at email@example.com.
About BioMed Realty Trust
BioMed Realty delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 13.1 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, Maryland, San Diego, New York/New Jersey, Pennsylvania and Seattle, which have well-established reputations as centers for scientific research.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions, developments and other investments, and the ability to refinance indebtedness as it comes due; failure to maintain the company's investment grade credit ratings with the ratings agencies; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with downturns in foreign, domestic and local economies, changes in interest rates and foreign currency exchange rates, and volatility in the securities markets; ownership of properties outside of the United States that subject the company to different and potentially greater risks than those associated with the company's domestic operations; risks associated with the company's investments in loans, including borrower defaults and potential principal losses; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.
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