By Devika Patel
Knoxville, Tenn., Nov.3 - Huntingdon Real Estate Investment Trust said it will conduct a C$40 million short-form prospectus offering of units through agents Canaccord Genuity Corp. and RBC Dominion Securities Inc.
The company will sell 40,000 units at C$1,000.00 per unit. The units consist of one C$1,000.00 7.5% convertible debenture and 28 warrants. The debentures are due Dec. 31, 2016.
The warrants are exercisable for trust units at C$9.00 until Dec. 31, 2016. The strike price is a 20.64% premium to the Nov. 2 closing price of C$7.46.
There is a C$6 million greenshoe.
Settlement is expected Nov. 10.
Proceeds will be used to redeem the trust's 7.5% series C convertible unsecured subordinated debentures and for general working capital purposes.
Based in Winnipeg, Man., Huntingdon is a real estate investment trust focused on commercial and industrial properties.
| Issuer: | Huntingdon Real Estate Investment Trust
|
| Issue: | Units of C$1,000.00 in debentures and 28 warrants
|
| Amount: | C$40 million
|
| Greenshoe: | C$6 million
|
| Units: | 40,000
|
| Price: | C$1,000.00
|
| Warrants: | 28 warrants per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10 in the first six months, C$0.12 thereafter
|
| Agents: | Canaccord Genuity Corp. and RBC Dominion Securities Inc.
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 10
|
| Stock symbol: | Toronto: HNT.UN
|
| Stock price: | C$7.46 at close Nov. 2
|
| Market capitalization: | C$109.55 million
|
|
|
| Debenture
|
| Maturity: | Dec. 31, 2016
|
| Coupon: | 7.5%
|
| Price: | Par of C$1,000
|
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