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PRIMARIS REIT ANNOUNCES $69.6 MILLION BOUGHT DEAL TREASURY AND SECONDARY OFFERING OF TRUST UNITS IN CONNECTION WITH RECENT ACQUISITION
PRIMARIS REIT ANNOUNCES $69.6 MILLION BOUGHT DEAL TREASURY AND SECONDARY OFFERING OF TRUST UNITS ...
About this update from Primaris Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n PRIMARIS REIT ANNOUNCES $69.6 MILLION BOUGHT DEAL TREASURY AND SECONDARY OFFERING OF TRUST UNITS IN CONNECTION WITH RECENT ACQUISITION\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 The base shelf prospectus is accessible, and the shelf prospectus supplement will be accessible within two business days, through SEDAR+\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Oct. 2, 2024\n \n\n /CNW/ - Primaris Real Estate Investment Trust (\"Primaris\" or the \"Trust\") (TSX: PMZ.UN) and Canada Pension Plan Investment Board (the \"Selling Unitholder\") announced today that they have entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets, Desjardins Capital Markets, TD Securities Inc., CIBC Capital Markets, National Bank Financial Inc. and Scotiabank (the \"Underwriters\") pursuant to which the Underwriters will purchase, on a bought-deal basis, an aggregate of 4,475,119 units of Primaris (\"Units\") at a price of\n \n $15.55\n \n per Unit (the \"Offering\"). The Offering consists of a treasury offering of 2,187,836 Units by Primaris and a secondary offering of 2,287,283 Units by the Selling Unitholder. On closing of the Offering, Primaris and the Selling Unitholder will receive gross proceeds of approximately\n \n $34.0 million\n \n and\n \n $35.6 million\n \n , respectively. Following the Offering, the Selling Unitholder will not hold any units of the Trust. The Offering is expected to close on or about\n \n October 9, 2024\n \n , and is subject to customary conditions, including the approval of the Toronto Stock Exchange.\n \n\n \"Primaris is very excited to announce this treasury and secondary offering, uniquely structured in association with the acquisition of Les Galeries de la Capitale. With this acquisition Primaris again demonstrates its distinct profile as an attractive buyer for large, high-quality market leading Canadian shopping centres,\" said\n \n Alex A...