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REITS(canadian)
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Pro Reit PRV.UN Offering at $2.30 I own a bit of PRV.un for some time. Very small with payout well over 100%. Seems like they ran it up for this offering which always becomes very clear to me after the fact. In my opinion 100% ROC for 2017. I think it is possible the offer price will not hold in the AM which is not unusual but interesting to me as an owner. NEWSToggle navigationMORE Pro Real Estate Investment Trust (PRV.UN - TSXV) Canada NewsWire MONTRÉAL, Jan. 10, 2018 /NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH UNITED STATES NEWS OR WIRE SERVICES./ MONTRÉAL, Jan. 10, 2018 /CNW/ - PRO Real Estate Investment Trust ("PROREIT" or the "REIT") (TSXV: PRV.UN) is pleased to announce that it has entered into an agreement to sell to a syndicate of underwriters co-led by Canaccord Genuity Corp. and TD Securities Inc. as joint bookrunners and Scotiabank (collectively, the "Underwriters"), on a bought deal basis, 10,870,000 trust units ("Units") at a price of $2.30 per Unit (the "Offering Price") for gross proceeds to the REIT of approximately $25 million (the "Offering"). The REIT has also granted the Underwriters an over-allotment option to purchase up to an additional 1,630,500 Units on the same terms and conditions, exercisable at any time, in whole or in part, up to 30 days after the closing of the Offering (the "Over-Allotment Option"). The Offering is expected to close on or about January 29, 2018 and is subject to customary conditions, including regulatory approval. The Units will be offered by way of a short form prospectus to be filed with the securities commissions and other similar regulatory authorities in each of the provinces of Canada, pursuant to National Instrument 44-101 - Short Form Prospectus Distributions. The REIT intends to use the net proceeds from the Offering to partially fund future acquisitions, to repay certain indebtedness and for general business and working capital purposes. |
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Msg # | Subject | Author | Recs | Date Posted |
4866 | Re: Pro Reit PRV.UN Offering at $2.30 | 3ed | 1 | 1/11/2018 6:54:41 PM |