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BTB announces $25 million bought deal of trust units
BTB announces $25 million bought deal of trust units Canada NewsWire MONTREAL, M...
About this update from Btb Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nBTB announces $25 million bought deal of trust units\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\nCanada NewsWire\nMONTREAL, May 27, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, May 27, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (\"BTB\" or the \"REIT\") announces today that it has reached an agreement with a syndicate of underwriters led by National Bank Financial Inc. and including Scotiabank, TD Securities Inc., Echelon Wealth Partners Inc., Laurentian Bank Securities Inc., Raymond James Ltd and Industrial Alliance Securities Inc. (together, the \"Underwriters\") to issue to the public, subject to regulatory approval, on a bought deal basis 5,354,000 trust units (the \"Units\") at a price of $4.67 per Unit for gross proceeds of approximately $25 million. The REIT has granted the Underwriters an over-allotment option exercisable in whole or in part at any time up to 30 days after closing to purchase up to an additional 803,100 Units at the same offering price.\nThe net proceeds from the offering (after deducting the Underwriters' fee and expenses of the offering) will be used to finance the acquisition of two properties (as described below) and to repay a portion of the amounts outstanding on BTB's acquisition line of credit. Should either or both of these acquisitions not materialize, BTB will use the unallocated net proceeds to repay a greater portion of the amounts outstanding on its acquisition line of credit and for general trust purposes.\nThe REIT will file with the securities commissions and other similar regulatory authorities in each of the provinces of Canada a short form preliminary prospectus relating to the offering of the Units on or about May 31, 2019. Closing of the offering is expected to take place on or about June 14, 2019.\nThis press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction in which such offer, solici...