By Devika Patel
Knoxville, Tenn., Feb. 4 - Pure Industrial Real Estate Trust announced that it will raise C$21.6 million in a private placement of trust units.
The company will sell 7.2 million units at C$3.00 apiece on a bought-deal basis.
The deal will be conducted by a syndicate of underwriters led by Canaccord Adams and including Dundee Securities Corp.
Proceeds will be used to purchase three income producing industrial properties and for general working capital purposes.
The open-ended real estate investment trust is based in Vancouver, B.C.
| Issuer: | Pure Industrial Real Estate Trust
|
| Issue: | Trust units
|
| Amount: | C$21.6 million
|
| Units: | 7.2 million
|
| Price: | C$3.00
|
| Warrants: | No
|
| Underwriters: | Canaccord Adams (lead), Dundee Securities Corp.
|
| Pricing date: | Feb. 4
|
| Stock symbol: | TSX Venture: AAR.UN
|
| Stock price: | C$3.35 at close Feb. 4
|
| Market capitalization: | C$25.2 million
|
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