First Capital Realty Announces Completion of $173 Million Equity Offering

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[{"type":"text","content":"\n\n\n\nFirst Capital Realty Announces Completion of $173 Million Equity 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\nFirst Capital Realty Announces Completion of $173 Million Equity Offering\nCanada NewsWire\nTORONTO, Aug. 17, 2016\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/\n\n\n\nTORONTO, Aug. 17, 2016 /CNW/ - First Capital Realty Inc. (TSX: FCR) (the \"Company\"), one of Canada's largest owners, developers and managers of grocery anchored, retail-focused urban properties, announced today that it has closed its previously announced bought deal public offering of 7,636,000 common shares (the \"Shares\") at a price of $22.60 per Share to a syndicate of underwriters co-led by TD Securities Inc. and RBC Capital Markets for gross proceeds of approximately $173 million (the \"Offering\"). The closing included 996,000 Shares issued as a result of the exercise in full of the underwriters' over-allotment option.\n\nThe Company will use the net proceeds from the Offering to partially fund the capital requirements in connection with (i) the acquisition of an 85,000 square foot flagship retail property with 52 commercial parking stalls at the southeast corner of Yonge Street and Bloor Street in Toronto, Ontario and (ii) the advance of an interim first mortgage loan and related potential acquisition in respect of an assembly of properties located at the northeast corner of Avenue Road and Lawrence Avenue, in Toronto, Ontario. The balance of the net proceeds, if any, will be used for general corporate purposes. The acquisitions are described in more detail in the Company's prospectus supplement dated August 8, 2016 which is available on SEDAR at www.sedar.com.\n\nUpon closing of the Offering today, there were 242,817,989 Shares of the Company issued and outstanding.\n\nThe securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requiremen...

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