Business
Inovalis Real Estate Investment Trust completes over-allotment option
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/...
About this update from Inovalis Reit
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nTORONTO, May 10, 2013 /CNW/ - Inovalis Real Estate Investment Trust (the\n \"REIT\") (TSX:INO.UN) announced today the closing of the issuance of an\n additional 870,000 trust units of the REIT at a price of $10.00 per\n unit for gross proceeds of $8,700,000. The issuance was pursuant to the\n partial exercise by the underwriters of their over-allotment option\n with respect to the REIT's recently completed initial public offering\n on April 10, 2013.  The exercise of the over-allotment option increases\n the total gross proceeds of the initial public offering to $113.7\n million.\n\n\nThe Offering was underwritten by a syndicate of the underwriters led by\n Desjardins Securities Inc. and including GMP Securities L.P., Macquarie\n Capital Markets Canada Inc., Laurentian Bank Securities Inc., UBS\n Securities Canada Inc., Manulife Securities Incorporated, Burgeonvest\n Bick Securities Limited, Industrial Alliance Securities Inc. and Mackie\n Research Capital Corporation.\n\n\nThe net proceeds to the REIT from the exercise of the over-allotment\n option will be used by the REIT for general trust purposes.\n\n\nThe trust units trade on the Toronto Stock Exchange under the symbol\n \"INO.UN\".\n\n\nThe units have not been, nor will they be, registered under the United\n States Securities Act of 1933, as amended, and may not be offered, sold\n or delivered, directly or indirectly, in the United States or to, or\n for the account or benefit of, \"U.S. persons\" (as defined in Regulation\n S under the United States Securities Act of 1933, as amended). This\n press release does not constitute an offer to sell or a solicitation of\n an offer to buy any of the units in the United States or to, or for the\n account or benefit of, U.S. Persons.\n\n\nAbout Inovalis Real Estate Investment Trust\n\n\nInovalis Real Estate Investment Trust is an unincorporated, open-ended\n real estate investment trust established pursuant to a declaration of\n trust under the laws of the Province of Ontario. The REIT has been\n created for the purpose of acquiring and owning office properties\n primarily located in France and Germany but also opportunistically in\n other European countries where assets meet the REIT's investment\n criteria. The REIT...