NorthWest Value deal settles alongside C$141.24 million public sale
By Devika Patel
Knoxville, Tenn., July 25 – NorthWest Healthcare Properties Real Estate Investment Trust said it raised about C$5 million in a private placement of trust units with NorthWest Value Partners Inc.
The company sold trust units at C$9.80 apiece, which is a 4.39% discount to the closing share price of C$10.25 on July 22.
The company also settled a C$66.49 million concurrent public sale of 6,785,000 units at the same price as those sold in the placement and a C$74.75 million offering of 5.25% convertible debentures. The public offering was conducted by a syndicate of underwriters co-led by RBC Capital Markets, BMO Capital Markets and National Bank Financial on a bought deal basis.
Proceeds from both sales will be used for strategic investments in Australia and New Zealand and to acquire two hospitals in Sao Paulo and Brasilia, Brazil.
Toronto-based NorthWest is an open-ended REIT focused on properties operated as medical offices.
| Issuer: | NorthWest Healthcare Properties Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$5 million (approximate)
|
| Price: | C$9.80
|
| Warrants: | No
|
| Investor: | NorthWest Value Partners Inc.
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| Settlement date: | July 25
|
| Stock symbol: | Toronto: NWH.UN
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| Stock price: | C$10.25 at close July 22
|
| Market capitalization: | C$626.64 million
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