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NorthWest Healthcare Properties REIT Announces Completion of Private Placement and Intention to Redeem One Series of In-The-Money Convertible Debentures
NorthWest Healthcare Properties REIT Announces Completion of Private Placement and Intent...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NorthWest Healthcare Properties REIT Announces Completion of Private Placement and Intention to Redeem One Series of In-The-Money Convertible Debentures\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 \n \n TSX: NWH.UN\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n April 9, 2021\n \n /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"NorthWest\" or the \"REIT\") is pleased to announce today that it has completed its previously disclosed private placement to NorthWest Value Partners Inc. (\"NWVP\") in which it issued 395,257 trust units (\"Units\") of the REIT at a price of\n \n $12.65\n \n per Unit for total gross proceeds of approximately\n \n $5,000,000\n \n (the \"Private Placement\"). The Private Placement was agreed to and announced concurrently with the REIT's\n \n $200,123,000\n \n public offering of Units completed in\n \n February 2021\n \n .\n \n \n The REIT also announced today that it intends to  redeem all of the outstanding 5.25% convertible unsecured subordinated debentures maturing on\n \n July 31, 2021\n \n (the \"Series E Debentures\"), of which\n \n $74,733,000\n \n aggregate principal amount is currently outstanding. The redemptions are expected to occur on\n \n May 10, 2021\n \n (the \"Redemption Date\"). The Series E Debentures are listed for trading on the TSX under the trading symbol \"NWH.DB.E\".\n \n \n The Series E Debentures have a conversion price of\n \n $12.75\n \n per Unit, which is less than the current trading price of the Units. Holders of Series E Debentures have an economically advantageous opportunity to convert their debentures to REIT Units and can do so in accordance with the Trust Indenture and the Supplemental Indenture related to the Series E Debentures. Registered holders of Series E Debentures that wish to convert must provide written notice of conversion prior to\n \n May 7, 2021\n \n , bei...