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NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF PREVIOUSLY ANNOUNCED PUBLIC EQUITY OFFERING AND FULL EXERCISE OF OVER-ALLOTMENT OPTION FOR GROSS PROCEEDS OF $172,506,900
NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF PREVIOUSLY ANNOUN...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF PREVIOUSLY ANNOUNCED PUBLIC EQUITY OFFERING AND FULL EXERCISE OF OVER-ALLOTMENT OPTION FOR GROSS PROCEEDS OF $172,506,900\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.prntal{\nTEXT-ALIGN: LEFT\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 TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TSX: NWH.UN\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 31, 2022\n \n \n /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH) (\"NorthWest\" or the \"REIT\") is pleased to announce today that it has completed its previously announced public offering (the \"Public Offering\") of 12,500,500 trust units (\"Units\") of the REIT at a price of\n \n $13.80\n \n per Unit for total gross proceeds of\n \n $172,506,900\n \n , which includes proceeds from the full exercise of an over-allotment option to purchase up to an additional 1,630,500 Units. The Public Offering was conducted on a bought deal basis through a syndicate of underwriters (the \"Underwriters\") co-led by Scotiabank and RBC Capital Markets.\n \n \n Together with the previously announced\n \n $15 million\n \n private placement to NorthWest Value Partners Inc. (\"NWVP\"), which is expected to close in\n \n May 2022\n \n (the \"Private Placement\" and together with the Public Offering, the \"Offering\"), the total gross proceeds of the Offering are expected to be approximately\n \n $187.5 million\n \n .\n \n \n Upon closing of the Private Placement, NWVP will hold an approximate 12.8% effective interest in the REIT through ownership of Units and Class B LP units.\n \n \n The REIT intends to use the net proceeds of the Offering to partially fund its previously announced binding agreement to acquire a portfolio of US healthcare real estate for\n \n $764.3 million\n \n , as described in its\n \n March 15, 2022\n \n press release (the \"US Acquisition\"). The remaining proceeds, if any, will be used to fund future acquisitio...