By Sheri Kasprzak
Atlanta, Jan. 27 - Lanesborough Real Estate Investment Trust has closed the over-allotment option on its previously announced private placement for an additional C$5,857,500.
The greenshoe included 1,171,500 trust units at C$5 each.
The total deal is now C$25 million in size and Lanesborough sold 5 million units.
Westwind Partners Inc. was the placement agent in the offering.
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. The remainder will be used for general corporate purposes.
| Issuer: | Lanesborough Real Estate Investment Trust
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| Issue: | Trust units (greenshoe)
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| Amount: | C$5,857,500 (Total deal size now C$25 million)
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| Units: | 1,171,500 (Total deal size now 5 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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| Settlement date: | Jan. 27
|
| Stock price: | C$5.70 at close Jan. 27
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