By Laura Lutz
Washington, Feb. 1 - Killam Properties Inc. arranged a private placement of shares for C$40.4 million.
The company plans to sell 17,413,793 common shares at C$2.32 each through a syndicate of underwriters led by RBC Capital Markets and Canaccord Adams.
Proceeds will be used to reduce the company's acquisition bridge facility, which was used to finance recent acquisitions, and to fund future growth.
Killam is a real estate company based in Halifax, N.S.
| Issuer: | Killam Properties Inc.
|
| Issue: | Common shares
|
| Amount: | C$40.4 million
|
| Shares: | 17,413,793
|
| Price: | C$2.32
|
| Warrants: | No
|
| Underwriters: | RBC Capital Markets, Canaccord Adams
|
| Pricing date: | Feb. 1
|
| Stock symbol: | Toronto: KMP
|
| Stock price: | C$2.40 at close Feb. 1
|
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