Company used proceeds for C$55 million apartment building acquisition
By Devika Patel
Knoxville, Tenn., Nov. 19 – CHC Realty Capital Corp. said it settled an C$8.26 million private placement of units. The deal priced for between C$8.15 million and C$10.85 million on Oct. 6, at which time the company planned to sell units of one common share and one half-share warrant. The terms of the offering were amended on Nov. 6 to offer units of one share and one full warrant.
The company sold 75,104,917 units at C$0.11 per unit.
The warrants are exercisable at C$0.13 for two years; the strike price is an 18.18% premium to the Oct. 3 closing share price of C$0.11.
Thomas Hofstedter Family Foundation bought 18.2 million units for C$2 million.
The deal was conducted by a syndicate of agents led by Raymond James Ltd. and including GMP Securities LP, Canaccord Genuity Corp., Dundee Securities Ltd., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc. and Beacon Securities Ltd.
Proceeds were used for the company’s C$55 million acquisition of an apartment building in London, Ont.
The owner and operator of student housing properties is based in Toronto.
| Issuer: | CHC Realty Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$8,261,541
|
| Units: | 75,104,917
|
| Price: | C$0.11
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.13
|
| Agents: | Raymond James Ltd. (lead), GMP Securities LP, Canaccord Genuity Corp., Dundee Securities Ltd., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc. and Beacon Securities Ltd.
|
| Investor: | Thomas Hofstedter Family Foundation (for C$2,002,000)
|
| Pricing date: | Oct. 6
|
| Settlement date: | Nov. 19
|
| Stock symbol: | TSX Venture: CHC
|
| Stock price: | C$0.11 at close Oct. 3
|
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