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PLAZA RETAIL REIT ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $40 MILLION OF TRUST UNITS
PLAZA RETAIL REIT ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $40 MILLION OF TRUST UNITS C...
About this update from Plaza Retail Reit
[{"type":"text","content":"\n \n \n \n PLAZA RETAIL REIT ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF $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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\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 8, 2023\n \n \n /CNW/ - Plaza Retail REIT (\"Plaza\" or the \"REIT\") (TSX: PLZ.UN) is pleased to announce that it has entered into an agreement to sell to a syndicate of underwriters co-led by RBC Capital Markets and CIBC Capital Markets (the \"Underwriters\"), on a bought-deal basis, 8,548,000 trust units (the \"Units\") of Plaza issued from treasury at a price of\n \n $4.68\n \n per Unit for gross proceeds to the REIT of approximately\n \n $40 million\n \n (the \"Offering\").\n \n \n Plaza has granted the Underwriters an over-allotment option (the \"Over-Allotment Option\"), 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 The REIT 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 (current outstanding balance of\n \n $47.25 million\n \n ), which mature on\n \n March 31, 2023\n \n (the \"Series E Debentures\").\n \n \n Plaza will, within the next few days, file with the securities commissions and other similar regulatory authorities in each of the provinces of\n \n Can...