BETHESDA, Md.--(BUSINESS WIRE)--Global Medical REIT Inc. (NYSE:GMRE), today announced that it has priced an underwritten public offering of 3,500,000 shares of its common stock at a price to the public of $9.00 per share for gross proceeds of $31.5 million. The company has also granted the underwriters a 30-day option to purchase an additional 525,000 shares of common stock offered in the public offering to cover over-allotments, if any. Global Medical REIT intends to use the net proceeds from this offering to repay $25.0 million of the outstanding indebtedness under its revolving credit facility and to fund acquisitions or for other general corporate purposes.

Janney Montgomery Scott, Wunderlich and BMO Capital Markets served as joint book-running managers for the offering. BB&T Capital Markets, D.A. Davidson & Co. and Oppenheimer & Co. served as co-managers for the offering.

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.