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BSR Real Estate Investment Trust Announces Successful Closing US$69 Million Bought Deal Equity Offering
BSR Real Estate Investment Trust Announces Successful Closing US$69 Million Bought Deal E...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BSR Real Estate Investment Trust Announces Successful Closing US$69 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES\n \n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n LITTLE ROCK, Ark.\n \n and\n \n TORONTO\n \n ,\n \n Feb. 9, 2021\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, CIBC Capital Markets, and RBC Capital Markets (the \"Underwriters\") on a bought deal basis. A total of 6,302,000 Units were issued at a price of\n \n US$10.95\n \n per Unit for total gross proceeds to the REIT of\n \n US$69,006,900\n \n , which includes the gross proceeds from the full exercise of the over-allotment option granted to the Underwriters to purchase an additional 822,000 Units.\n \n \n BSR intends to use the net proceeds from the Public Offering to repay a portion of amounts outstanding on its credit facility, to fund future acquisitions and for general trust purposes. With today's closing of the Public Offering, BSR expects to have access to approximately\n \n US$155 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 base shelf prospectus dated\n \n November 8, 2019\n \n . The terms of the Public Offering are described in a prospectus supplement dated\n \n February 4, 2021\n \n filed with Canadian securities regulators. A copy of the prospectus supplement is available under the REIT's profile on the SEDAR website at\n \n www.sedar.com\n \n .\n \n \n The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amend...