Global Medical REIT Inc. (NYSE: GMRE) has completed a one-for-five reverse stock split of its issued, outstanding, and authorized shares of common stock, par value $0.001 per share. As a result of the reverse stock split, the number of shares of common stock outstanding has been reduced from 67,037,048 shares to approximately 13,407,409 shares. The reverse stock split also led to a proportionate reduction in the company’s authorized shares of its common stock from 500,000,000 shares to 100,000,000 shares.
At the effective time, the aggregate number of shares authorized for repurchase under the company’s stock repurchase program, the aggregate number of shares issuable under the company’s equity incentive plan, the outstanding equity awards granted under the company’s equity incentive plan, and the outstanding partnership units of Global Medical REIT L.P., the company’s operating partnership, were ratably adjusted to reflect the reverse stock split.
The common stock will begin trading on a reverse split-adjusted basis on the New York Stock Exchange (NYSE) at the opening of trading on September 22, 2025, under the symbol “GMRE” with a new CUSIP number: 37954A303.
It's worth noting that no fractional shares were issued in connection with the reverse stock split. Instead, each stockholder that would hold fractional shares as a result of the reverse stock split is entitled to receive cash in an amount based on the closing price of the company's common stock on the NYSE.
Global Medical REIT Inc. is a net-lease medical REIT that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. The market has reacted to these announcements by moving the company's shares -2.59% to a price of $7.53. For more information, read the company's full 8-K submission here.
