By Sheri Kasprzak
Atlanta, Dec. 20 - Lanesborough Real Estate Investment Trust priced a previously announced C$17 million private placement.
The offering includes 3.4 million trust units at C$5 each.
Westwind Partners Inc., the placement agent in the deal, has an option to raise an additional C$8 million for total proceeds of C$25 million.
The deal is scheduled to close Dec. 30.
Winnipeg-based Lanesborough is a real estate investment trust. It plans to use the proceeds from the offering for the purchase of five multifamily apartment complexes and other properties.
| Issuer: | Lanesborough Real Estate Investment Trust
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| Issue: | Trust units
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| Amount: | C$17 million
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| Shares: | 3.4 million
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| Price: | C$5.00
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| Warrants: | No
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| Placement agent: | Westwind Partners Inc.
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| Announcement date: | Nov. 2
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 30
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| Stock price: | C$4.70 at close Nov. 2
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| Stock price: | C$5.40 at close Dec. 17 (last trade)
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