Global Medical REIT, a healthcare facilities REIT with a current portfolio of 12 facilities, announced terms for its IPO on Thursday.
The Bethesda, MD-based company plans to raise $100 million by offering 9.1 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Global Medical REIT would command a market value of $133 million.
Global Medical REIT was founded in 2011 and booked $1.3 million in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol GMR. Wunderlich Securities and Oppenheimer & Co. are the joint bookrunners on the deal. It is expected to price during the week of June 27, 2016.
