By Sheri Kasprzak
New York, Aug. 2 - Killam Properties Inc. has finalized the terms of its previously announced private placement for C$15,088,000.
The company intends to sell 6.56 million shares at C$2.30 apiece in the offering.
The deal is slated to close Aug. 21.
The offering is being placed through a syndicate of agents led by Desjardins Securities Inc. and including Canaccord Capital Corp., TD Securities Inc., Acadian Securities Inc. and Beacon Securities Ltd.
Proceeds will be used to fund recent acquisitions and future growth.
Killam, based in Halifax, N.S., is a real estate company and manages multi-family residential rental properties.
| Issuer: | Killam Properties Inc.
|
| Issue: | Stock
|
| Amount: | C$15,088,000
|
| Shares: | 6.56 million
|
| Price: | C$2.30
|
| Warrants: | No
|
| Placement agents: | Desjardins Securities Inc. (lead), Canaccord Capital Corp., TD Securities Inc., Acadian Securities Inc. and Beacon Securities Ltd.
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 21
|
| Stock symbol: | Toronto: KMP
|
| Stock price: | C$2.47 at close Aug. 2
|
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