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BSR Real Estate Investment Trust Announces Successful Closing Of US$115 Million Bought Deal Equity Offering
BSR Real Estate Investment Trust Announces Successful Closing Of US$115 Million Bought De...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BSR Real Estate Investment Trust Announces Successful Closing Of US$115 Million Bought Deal Equity Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES\n \n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n This news release constitutes a \"designated news release\" for the purposes of the REIT's prospectus supplement dated\n \n December 8, 2021\n \n , to its short form base shelf prospectus dated\n \n December 1, 2021\n \n .\n \n \n \n \n \n \n LITTLE ROCK, Ark.\n \n and\n \n TORONTO\n \n \n ,\n \n \n April 29, 2022\n \n \n /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) (TSX: HOM.UN) announced today that it has completed its previously announced public offering (the \"Public Offering\") of trust units of the REIT (\"Units\")  to a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, and CIBC Capital Markets (the \"Underwriters\") on a bought deal basis. A total of 5,888,000 Units were issued at a price of\n \n US$19.55\n \n per Unit for total gross proceeds to the REIT of\n \n US$115,110,400\n \n , which includes the gross proceeds from the full exercise of the over-allotment option granted to the Underwriters to purchase an additional 768,000 Units.\n \n \n BSR intends to use the net proceeds from the Public Offering to repay outstanding indebtedness, to fund future acquisitions and for general trust purposes. With today's closing of the Public Offering, BSR expects to have a debt-to-gross book value of approximately 37.9% including the convertible debentures and 35.1% excluding the convertible debentures and access to approximately\n \n US$150 million\n \n of available liquidity through unrestricted cash and borrowing capacity available under its credit facility.\n \n \n The Units were offered in each of the provinces and territories of\n \n Canada\n \n pursuant to the REIT's short form prospectus dated\n \n April 26, 2022\n \n...