Investor KingSett may subscribe for another C$4.5 million of shares
By Toni Weeks
San Luis Obispo, Calif., Sept. 9 – Killam Properties Inc. plans to raise C$7 million in a private placement of common shares with investor KingSett Real Estate Growth LP No. 5, according to a press release.
The company will sell 691,488 shares at C$10.12 each, a 2.32% discount to the closing share price of C$10.36 on Sept. 8.
In connection with the private placement, KingSett will have the right to subscribe for an additional C$4.5 million of shares upon the completion of certain transactions.
The placement is expected to close by the end of September.
Halifax, N.S.-based Killam owns and operates apartment properties and manufactured home communities in Canada.
| Issuer: | Killam Properties Inc.
|
| Issue: | Common shares
|
| Amount: | C$6,997,859
|
| Shares: | 691,488
|
| Price: | C$10.12
|
| Warrants: | No
|
| Investor: | KingSett Real Estate Growth LP No. 5
|
| Pricing date: | Sept. 9
|
| Stock symbol: | TSX: KMP
|
| Stock price: | C$10.36 at close Sept. 8
|
| Market capitalization: | C$574.03 million
|
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