BioMed Realty Trust Provides Notice of Redemption of 7.375% Series A Cumulative Redeemable Preferred Stock
SAN DIEGO, Feb. 12, 2013 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) (the "Company"), a real estate investment trust (REIT) that delivers optimal real estate solutions for the life science industry, today announced that it delivered a notice of the Company's intention to redeem all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock (the "Series A preferred stock") (NYSE: BMRPrA; CUSIP No.: 09063H206) from the registered holders of the Series A preferred stock. Pursuant to the provisions of the Articles Supplementary classifying the Series A preferred stock, upon delivery of the notice, the Company will have taken all necessary action to redeem all outstanding shares of Series A preferred stock on March 15, 2013. The Series A preferred stock will be redeemed at a redemption price of $25.30217 per share (the sum of the $25.00 per share redemption price and a quarterly dividend of $0.460940 prorated through the redemption date). On the redemption date, the Series A preferred stock will cease to accrue dividends.
Stockholders who hold Series A preferred stock through the Depository Trust Company will be redeemed in accordance with the Depository Trust Company's procedures. On or before the redemption date, the funds necessary for the redemption of the Series A preferred stock will have been set aside by the Company in trust for the benefit of the holders thereof. Subject to applicable escheat laws, any moneys set aside by the Company and unclaimed at the end of two years from the redemption date will revert to the general funds of the Company, after which reversion the holders of Series A preferred stock called for redemption may look only to the general funds of the Company for payment of the redemption price.
Upon deposit by the Company of the redemption price in trust for the account of the holders of the Series A preferred stock and from and after the redemption date, the Series A preferred stock will no longer be deemed to be outstanding and all rights with respect to such stock will cease and terminate (including, but not limited to, the right to receive dividends from and after the redemption date) except only the right of the holders thereof to receive, out of the funds so deposited in trust, from and after such date, the amount payable upon the redemption thereof, without interest.
Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to the Company's transfer agent, Computershare Trust Company, N.A., at 1-800-546-5141 (domestic) or 1-781-575-2765 (international).
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. 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, including statements related to the redemption of the company's Series A preferred stock. 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.