Homburg Invest Inc.
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Publicatie datum
24 aug 2011 - 02:28
Statutaire naam
Homburg Invest Inc.
Titel
Homburg Invest Inc. Announces Participation in the Bought Deal Financing of Homburg Canada Real Estate Investment Trust
Bericht
HALIFAX, NOVA SCOTIA, August 23, 2011 – (TSX: HII.A HII.B) (AEX:HII) - Homburg Invest Inc. (“HII”) and Homburg Canada Real Estate Investment Trust (the “REIT”) have entered into an agreement to sell 5,500,000 units of the REIT (the “Units”) on a bought deal basis at a price of $11.50 per Unit to a syndicate of underwriters led by TD Securities Inc. (the “Underwriters”). The REIT will issue 2,500,000 Units for gross proceeds to the REIT of $28,750,000, and HII will sell 3,000,000 Units for gross proceeds to HII of $34,500,000.
HII will use the net proceeds from the offering for general operating purposes. HII will not receive any proceeds from the Units sold by the REIT. HII currently owns a 23.1% interest in the REIT through the ownership of 11,813,866 Units. Upon completion of the offering, but before giving effect to the over-allotment option granted by the REIT to the Underwriters, it is anticipated that HII will own 8,813,866 Units, representing an interest of approximately 16.4% in the REIT (following the issuance of the 2,500,000 Units to be sold by the REIT).
Closing of the offering is expected to occur on or about September 13, 2011. The offering is subject to certain conditions, including customary regulatory approvals. The terms of the offering will be described in a short form prospectus to be filed with the securities commissions and other similar regulatory authorities in each of the provinces of Canada on or about August 29, 2011.
This press release is not an offer of securities for sale in the United States.
Datum laatste update: 01 september 2024