Minto Apartment REIT Announces Closing of $225 Million Bought Deal Offering of Trust Units

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[{"type":"text","content":"\n\n\n\nMinto Apartment REIT Announces Closing of $225 Million Bought Deal Offering 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\nOTTAWA, Oct. 22, 2019\n\n\n\n- NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES -\n OTTAWA, Oct. 22, 2019 /CNW/ - Minto Apartment Real Estate Investment Trust (TSX: MI.UN) (the \"REIT\") today announced the closing of the sale of 9,850,000 trust units of the REIT (\"Units\") from treasury at a price of $22.85 per Unit (the \"Offering Price\") to a syndicate of underwriters bookrun by TD Securities Inc. and BMO Capital Markets (the \"Underwriters\") for gross proceeds of approximately $225 million (the \"Offering\").\n\n \n \n\n \nThe REIT has also granted the Underwriters an option (the \"Over-Allotment Option\"), exercisable in whole or in part at any time up to 30 days after the closing of the Offering, to purchase up to an additional 985,000 trust units at the Offering Price. If the Over-Allotment Option is exercised in full, the gross proceeds of the Offering will be approximately $248 million.\nThe REIT intends to use the net proceeds of the Offering to finance directly and/or indirectly a portion of the purchase price for the pending acquisition of Le 4300 and Haddon Hall, two high-quality multi-residential properties in Montreal, Quebec (the \"Acquisition\"). \nThe Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the \"1933 Act\") and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, \"U.S. persons\" (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any Units in the United States or to, or for the account or benefit of, U.S. persons.\nAbout Minto Apartment Real Estate Investment TrustMinto Apartment Real Estate Investment Tr...

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