By Sheri Kasprzak
Atlanta, March 9 - Huntingdon Real Estate Investment Trust said it has priced and upsized a private placement for C$36,015,000.
The company will sell up to 13.34 million units at C$2.25 each for proceeds of up to C$30,015,000.
The company will also issue C$6 million in convertible debentures bearing interest at 8% annually. The debentures are convertible into units at C$2.55 each any time after the second anniversary of the closing.
The deal was first announced as a C$21 million offering Feb. 28.
A syndicate of underwriters led by Westwind Partners Inc. and including Wellington West Capital Inc. and Desjardins Securities Inc. will be placing the deal, which is expected to close March 22.
Based in Winnipeg, Manitoba, Huntingdon is a real estate investment trust. It plans to use the proceeds from the deal for industrial and commercial real estate properties and for general corporate purposes.
Units
| Issuer: | Huntingdon Real Estate Investment Trust
|
| Issue: | Units
|
| Amount: | C$30,015,000 (maximum)
|
| Units: | 13.34 million (maximum)
|
| Price: | C$2.25
|
| Warrants: | No
|
| Underwriters: | Westwind Partners Inc. (lead); Wellington West Capital Inc.; Desjardins Securities Inc.
|
| Pricing date: | March 9
|
| Settlement date: | March 22
|
| Stock price: | C$2.55 at close March 9
|
|
|
| Convertible debentures
|
| Issuer: | Huntingdon Real Estate Investment Trust
|
| Issue: | Convertible debentures
|
| Amount: | C$6 million (maximum)
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$2.55
|
| Warrants: | No
|
| Underwriters: | Westwind Partners Inc. (lead); Wellington West Capital Inc.; Desjardins Securities Inc.
|
| Pricing date: | March 9
|
| Settlement date: | March 22
|
| Stock price: | C$2.55 at close March 9
|
|
|
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