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PLAZA COMPLETES BOUGHT DEAL PUBLIC OFFERING OF APPROXIMATELY $40 MILLION OF TRUST UNITS
PLAZA COMPLETES BOUGHT DEAL PUBLIC OFFERING OF APPROXIMATELY $40 MILLION OF TRUST UNITS ...
About this update from Plaza Retail Reit
[{"type":"text","content":"\n \n \n \n PLAZA COMPLETES BOUGHT DEAL PUBLIC OFFERING OF APPROXIMATELY $40 MILLION OF TRUST UNITS\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 \n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n \n \n \n \n FREDERICTON, NB\n \n \n ,\n \n \n March 28, 2023\n \n \n /CNW/ - Plaza Retail REIT (\"\n \n Plaza\n \n \" or the \"\n \n REIT\n \n \") (TSX: PLZ.UN) announced today that it has closed its previously announced bought deal public offering (the \"\n \n Offering\n \n \") of 8,548,000 trust units (the \"\n \n Units\n \n \") of Plaza issued from treasury at a price of\n \n $4.68\n \n per Unit for gross proceeds to the REIT of\n \n $40,004,640\n \n . The underwriting syndicate for the Offering was co-led by RBC Capital Markets and CIBC Capital Markets (the \"\n \n Underwriters\n \n \").\n \n \n Plaza has granted the Underwriters an over-allotment option (the \"\n \n Over-Allotment Option\n \n \"), exercisable in whole or in part up to 30 days after closing, to purchase up to an additional 1,282,200 trust units to cover over-allotments, if any. Any units issued under the Over-Allotment Option will be issued by Plaza from treasury.\n \n \n As previously announced, Plaza intends to use the net  proceeds from the Offering, together with existing liquidity, to fund the repayment of all of the REIT's Series E 5.10% convertible subordinated unsecured debentures (the \"\n \n Series E Debentures\n \n \"), which mature on\n \n March 31, 2023\n \n .\n \n \n This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in\n \n the United States\n \n absent registration or pursuant to applicable exemption from registration.\n \n \n \n ABOUT PLAZA\n \n \n \n Plaza is a...