Business
Slate Retail REIT Announces Closing of C$50 Million Bought Deal Equity Offering
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/ ...
About this update from Slate Grocery Reit Class U
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE\n SERVICES/\n\n\nTORONTO, Oct. 14, 2014 /CNW/ - Slate Retail REIT (the \"REIT\") (TSX: SRT.U/SRT.UN) today announced the closing of its previously\n announced offering of 4,260,000 class U trust units of the REIT (the \"Units\"), at a price of C$11.75 per Unit (US$10.72) for gross proceeds of\n approximately C$50 million (or U.S.$46 million) (the \"Offering\"). The Offering was conducted on a bought deal basis by a syndicate of\n underwriters led by joint-bookrunners CIBC and GMP Securities, and\n including BMO Capital Markets, RBC Capital Markets, National Bank\n Financial, Raymond James Ltd. and Scotiabank (collectively, the \"Underwriters\"). The REIT has also granted the Underwriters an overallotment option\n to purchase up to an additional 639,000 Units on the same terms and\n conditions, exercisable at any time, in whole or in part, up to 30 days\n after the closing of the Offering (the \"Over-Allotment Option\").\n\n\nThe REIT intends to use the net proceeds from the Offering, including\n any amounts received on the exercise of the Over-Allotment Option, to\n fund the purchase price for the acquisitions of previously announced\n properties, repay amounts drawn under the REIT's credit facilities and\n for future acquisitions and general trust purposes.\n\n\nAbout Slate Retail REIT\n\n\nSlate Retail REIT is an open-ended real estate investment trust focused\n on U.S. grocery-anchored real estate. The REIT's portfolio includes\n over 30 properties located primarily across the top 50 U.S. metro\n markets. The REIT is focused on maximizing value through internal\n organic rental growth and strategic acquisitions. www.slateretailreit.com\n\n\nCautionary Statements Regarding Forward-Looking Statements\n\n\nThis press release contains forward-looking statements with respect to\n the REIT and its operations, strategy, financial performance and\n financial condition, as well as with respect to the previously\n disclosed acquisitions and future acquisitions of properties. These\n statements generally can be identified by the use of forward-looking\n word \"intend\". The actual results and performance of the REIT and the\n acquisitions discussed herein could differ materially from those\n expressed or implied by such statements. Accordingly, readers should\n ...