NorthWest Value deal settles alongside C$60.26 million public sale
By Devika Patel
Knoxville, Tenn., April 20 – NorthWest Healthcare Properties Real Estate Investment Trust said it raised about C$10 million in a private placement of trust units with NorthWest Value Partners Inc.
The company sold trust units at C$9.20 apiece, which is a 1.6% discount to the closing share price of C$9.35 on April 19.
The company also settled a C$60.26 million concurrent public sale of 6.55 million units at the same price as those sold in the placement. The public offering with a C$9.04 million greenshoe was conducted by a syndicate of underwriters co-led by RBC Capital Markets and BMO Capital Markets on a bought deal basis.
Proceeds from both sales will be used for the equity component of the company’s planned acquisition of a two building medical office complex in Berlin, Germany, to repay debt and for general trust purposes.
Toronto-based NorthWest is an open-ended REIT focused on properties operated as medical offices.
Issuer: | NorthWest Healthcare Properties Real Estate Investment Trust
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Issue: | Trust units
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Amount: | C$10 million (approximate)
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Price: | C$9.20
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Warrants: | No
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Investor: | NorthWest Value Partners Inc.
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Settlement date: | April 20
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Stock symbol: | Toronto: NWH.UN
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Stock price: | C$9.35 at close April 19
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Market capitalization: | C$672.47 million
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