SAN DIEGO, May 10 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc.
(NYSE: BMR) today announced the pricing of its public offering of 9,075,000
shares of its common stock at $28.65 per share, reflecting an increase from
its previously announced offering size of 8,000,000 shares. The offering is
expected to close on May 16, 2006. Gross proceeds from the offering will be
approximately $260 million. All of the shares are being sold by the company.
Raymond James & Associates, Inc. is the sole book-running manager for the
offering, with Citigroup Global Markets Inc. acting as co-lead manager and
KeyBanc Capital Markets, a division of McDonald Investments Inc., Wachovia
Capital Markets, LLC, Friedman Billings Ramsey & Co., Inc., RBC Capital
Markets, Stifel Nicolaus & Company, Incorporated and BB&T Capital Markets, a
division of Scott & Stringfellow, Inc., acting as co-managers. BioMed also
granted the underwriters a 30-day option to purchase up to an additional
1,361,250 shares to cover over-allotments, if any.
BioMed expects to use the net proceeds of this offering to fund a portion
of the purchase price of its previously announced acquisition of Human Genome
Sciences' large-scale manufacturing and headquarters office and laboratory
facilities located in Rockville, Maryland, for which BioMed has signed a
definitive purchase and sale agreement.
The registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy any of
BioMed's common stock, nor shall there be any sale of such common stock in any
state in which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such state. The
offering of BioMed'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 Raymond James & Associates, Inc., 880 Carillon Parkway,
St. Petersburg, FL 33716.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused
on Providing Real Estate to the Life Science Industry(TM). The company's
tenants primarily include biotechnology and pharmaceutical companies,
scientific research institutions, government agencies and other entities
involved in the life science industry, and its properties and primary
acquisition targets are generally located in markets with well established
reputations as centers for scientific research, including Boston, San Diego,
San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey.
BioMed's real estate portfolio consists of 43 properties, representing
64 buildings with approximately 4.8 million rentable square feet in each of
the major life science markets in the United States. Additional information
is available at www.biomedrealty.com.
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, which could affect the actual results and timing of
the offering, 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 and the
use of debt to fund acquisitions and developments; failure to manage
effectively the company's growth and expansion into new markets, or to
complete or integrate acquisitions successfully, including the acquisition of
the Human Genome Sciences properties; risks and uncertainties affecting
property development and construction; risks associated with downturns in the
national and local economies, increases in interest rates, and volatility in
the securities markets; 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. 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.
05/10/2006
CONTACT: Kent Griffin, Chief Financial Officer of BioMed Realty Trust,
Inc., +1-858-485-9840
Web site: http://www.biomedrealty.com
(BMR)
05/10/2006 22:34 EDT http://www.prnewswire.com
