- AIP Realty Trust (AIP.U) has announced a marketed offering of trust units for gross proceeds of up to US$25 million
- If the over-allotment option being offered to the agents is fully exercised, the aggregate gross proceeds of the offering will be US$28.75 million
- Net proceeds will be used for general administrative and working capital
- AIP Realty Trust is a real estate investment trust
- AIP Realty Trust (AIP.U) opened trading at C$2.00
AIP Realty Trust (AIP.U) has announced a marketed offering of trust units for gross proceeds of up to US$25 million.
Laurentian Bank Securities Inc., Raymond James Ltd. iA Private Wealth Inc., and Canaccord Genuity Corp. will act as co-lead agents.
The Trust has granted the agents an option to purchase up to an additional 15 per cent of the units sold in the offering for up to 30 days following the closing. If the entire offering is completed and the over-allotment option is fully exercised, the aggregate gross proceeds of the offering will be US$28.75 million.
The agents will receive a cash commission equal to 6.0 per cent of the gross proceeds of the offering. The agents will also receive non-transferable warrants.
Net proceeds will be used for general administrative and working capital.
AIP Realty Trust is a real estate investment trust with a growing portfolio of light industrial facilities focused on small businesses and the U.S trade and services sectors.
AIP Realty Trust (AIP.U) opened trading at C$2.00.
