- Slate Office REIT (SOT.UN) it has successfully issued an additional $9.2 million of debentures
- It is according to the previously announced partial exercise of the debenture over-allotment option granted by the REIT to the syndicate of underwriters
- With the $5.8 million private placement to Slate Asset Management L.P. and the private placement it is expected to be for gross aggregates of approximately $145 million
- The net proceeds of the offering and private placement will be used to partially finance the proposed acquisition of Yew Grove REIT plc
- Slate Office REIT (SOT.UN) is up 1.22 per cent trading at $4.96 per share as of 12:02 p.m. EST
Slate Office REIT (SOT.UN) has issued an additional $9.2 million of debentures to the underwriters as partial exercise of an over-allotment option.
The offering was conducted on a bought deal basis by a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets.
The initial offering was for $75 million in debentures and 1,225,000 subscription receipts.
Subscription receipts were priced at $4.90 for gross proceeds of approximately $55 million which closed on November 19th.
The debentures and subscription receipts are listed on the Toronto Stock Exchange under the ticker symbols SOT.DB.A and SOT.R, respectively.
The aggregate proceeds from the previously announced $5.8 million private placement to Slate Asset Management L.P. and the private placement, will total approximately $145 million.
The net proceeds will be used to partially finance the proposed acquisition of Yew Grove REIT plc.
Slate Office REIT (SOT.UN) is up 1.22 per cent trading at $4.96 per share as of 12:02 p.m. EST.