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CHEMTRADE LOGISTICS INCOME FUND COMPLETES $86.5 MILLION BOUGHT DEAL EQUITY OFFERING
CHEMTRADE LOGISTICS INCOME FUND COMPLETES $86.5 MILLION BOUGHT DEAL EQUITY OFFERING ...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n \n \n \n CHEMTRADE LOGISTICS INCOME FUND COMPLETES $86.5 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 /NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 22, 2022\n \n \n /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"\n \n Chemtrade\n \n \" or the \"\n \n Fund\n \n \") announced today that it has completed its previously-announced public offering of trust units (\"\n \n Trust Units\n \n \") at a price of\n \n $8.65\n \n per Trust Unit. The underwriters elected to exercise the over-allotment option in full, resulting in a total of 10,005,000 Trust Units being issued today for gross proceeds of approximately\n \n $86.5 million\n \n (the \"\n \n Offering\n \n \"). The Trust Units were sold to a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets, and which included CIBC Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc. and Desjardins Securities Inc. (collectively, the \"\n \n Underwriters\n \n \"), on a bought deal basis.\n \n \n Chemtrade intends to use the net proceeds from the Offering to partially finance Chemtrade's previously announced ultrapure sulphuric acid growth projects to expand capacity at its existing\n \n Ohio\n \n plant and to build a new plant in\n \n Arizona\n \n . Pending any such use, the net proceeds from the Offering will temporarily be used to reduce indebtedness under the Fund's existing credit agreement. Chemtrade believes that additional capacity for ultrapure sulphuric acid is required to support the fast-growing semiconductor industry in the United States.\n \n \n This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any offer, solicitation or sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n \n \n About Chemtrade\n \n \n Chemtrade operates a diversified ...