By Devika Patel
Knoxville, Tenn., Jan. 9 - InterRent Real Estate Investment Trust revised a non-brokered private placement of units to raise C$3.56 million. The deal priced for C$4.25 million on Dec. 21.
The company now will sell about 809,000 trust units to an existing institutional investor for C$4.40 apiece. The company planned to sell about 965,909 trust units at that price.
InterRent also said it had filed a final prospectus for a C$25 million offering of convertibles.
The unit placement is expected to close concurrently with the convertibles sale, but it is not dependent on the convertible offering.
InterRent is a Toronto-based real estate investment trust focused on apartments.
| Issuer: | InterRent Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$3,559,600
|
| Units: | 809,000
|
| Price: | C$4.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 21
|
| Revised: | Jan. 9
|
| Stock symbol: | Toronto: IIP.UN
|
| Stock price: | C$3.75 at close Dec. 21
|
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