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Firm Capital Property Trust Announces Closing of Over-Allotment Option Associated with the Recently Completed Public Offering
Firm Capital Property Trust Announces Closing of Over-Allotment Option Associated with the...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust Announces Closing of Over-Allotment Option Associated with the Recently Completed Public Offering\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\nTORONTO, April 30, 2019\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, April 30, 2019 /CNW/ - Firm Capital Property Trust (\"FCPT\" or the \"Trust\"), (TSX-V: FCD.UN) is pleased to announce that pursuant to an over-allotment option granted under the underwriting agreement dated April 17, 2019 between FCPT and a syndicate of underwriters led by Canaccord Genuity Corp., CIBC Capital Markets, and National Bank Financial Inc., and including Scotiabank, TD Securities Inc., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., Raymond James Ltd., Desjardins Securities Inc., GMP Securities L.P., and Laurentian Bank Securities Inc. (collectively, the \"Underwriters\"), the Underwriters have purchased 321,145 additional trust units of FCPT (\"Trust Units\") at a price of $6.40 per Trust Unit for gross proceeds of $2.1 million.\nFollowing the exercise and closing of the over-allotment option, the Trust has raised aggregate gross proceeds of $28.3 million from its previously announced fully marketed offering. The net proceeds will be used by the Trust to fund the cash portion of the purchase price of the acquisition from First Capital Realty Inc., as previously announced on April 3, 2019, and for working capital and general trust purposes.\nABOUT FIRM CAPITAL PROPERTY TRUST\nFirm Capital Property Trust is focused on creating long-term value for unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, the Trust's plan is to own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and core service provider professional space. In addition to st...