representative work

Cassels Represents the Underwriters in PROREIT’s $57.6 Million Public Offering

08/16/2019

On August 16, 2019, PRO Real Estate Investment Trust closed a public offering of 8,222,500 trust units at a price of $7.00 per trust unit for total gross proceeds of approximately $57.6 including 1,072,500 units issued pursuant to the full exercise of the over-allotment option by the underwriters. The units were offered by way of a prospectus supplement to the REIT’s base shelf prospectus dated July 5, 2019, filed with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada.

The offering was completed by a syndicate of underwriters including TD Securities Inc. and Scotia Capital Inc. as joint bookrunners and Canaccord Genuity Corp., collectively as co-lead underwriters, as well as BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., Raymond James Ltd., Laurentian Bank Securities Inc. and Leede Jones Gable Inc.

Cassels acted for the underwriters with a deal team composed of Jay King, Jackson Phillips and Conrad Lee (Securities), Robert Lysy and Fatema Jivaji (Real Estate), and Jim Morand (Tax).