- Firm Capital Property Trust (FCD.UN) has closed its previously announced bought-deal public offering of 2,820,000 trust units
- The trust units were offered at a price of $7.10 per trust unit for gross proceeds of $20,022,000.00
- The public offering was managed by a syndicate of underwriters led by Canaccord Genuity Corp. and TD Securities Inc. as lead underwriters
- It is anticipated that the net proceeds of the offering will be used to repay indebtedness and for working capital and general trust purposes
- Firm Capital Property Trust is an open-ended real estate investment trust
- Firm Capital Property Trust was down 0.287 per cent, trading at $6.96 at 12:33 PM ET
Firm Capital Property Trust (FCD.UN) has closed its previously announced bought-deal public offering of 2,820,000 trust units.
The trust units were offered at a price of $7.10 per trust unit for gross proceeds of $20,022,000.00.
The public offering was managed by a syndicate of underwriters led by Canaccord Genuity Corp. and TD Securities Inc. as lead underwriters.
Other members of the syndicate of underwriters include iA Private Wealth Inc., Raymond James Ltd., National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets Inc., Desjardins Securities Inc., Echelon Wealth Partners Inc. and Laurentian Bank Securities Inc.
It is anticipated that the net proceeds of the offering will be used to repay indebtedness and for working capital and general trust purposes.
Firm Capital Property Trust is an open-ended real estate investment trust focused on creating long-term value for unit-holders, through capital preservation and investing to achieve stable distributable income.
The company operates in five segments: Grocery Anchored Retail, Non-Grocery Anchored Retail, Industrial, Multi-Residential, and Core Service Office Provider. A vast majority of its revenues are derived from the Grocery anchored retail segment.
In partnership with management and industry leaders, company’s plan is to own as well as to co-own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and core service provider professional space.
Firm Capital Property Trust was down 0.287 per cent, trading at $6.96 at 12:33 PM ET.