By Sheri Kasprzak
New York, Sept. 14 - Huntingdon Real Estate Investment Trust said a portion of the greenshoe on its previously announced private placement has been exercised, bringing to C$45,755,325 the size of the offering.
The company will now sell 16,054,500 trust units at C$2.85 each, including a greenshoe for 2,019,413 shares exercised by a syndicate of placement agents led by Westwind Partners Inc. and Desjardins Securities Inc. and including First Associates Investments Inc., National Bank Financial Inc. and Wellington West Capital Inc.
The offering was first announced, without terms, on Aug. 3 as a C$40 million deal. The agents had an over-allotment option for up to C$10 million in additional proceeds.
The proceeds will be used to purchase industrial and commercial real estate properties. The remainder will be used for general corporate purposes.
The offering is expected to close Sept. 15.
Winnipeg, Man.-based Huntingdon is a real estate investment trust.
| Issuer: | Huntingdon Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$45,755,325
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| Shares: | 16,054,500 (includes greenshoe for 2,019,413)
|
| Price: | C$2.85
|
| Warrants: | No
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| Placement agents: | Westwind Partners Inc. (lead); Desjardins Securities Inc. (lead); First Associates Investments Inc.; National Bank Financial Inc.; Wellington West Capital Inc.
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 15
|
| Stock price: | C$2.95 at close Sept. 13
|
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