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Cassels Represents the Underwriters in PROREIT’s $35 Million Bought Deal Public Offering


On May 26, 2023, PRO Real Estate Investment Trust closed a bought deal public offering of $35 million aggregate principal amount of 8% convertible unsecured subordinated debentures at a price of $1,000 per convertible unsecured subordinated debenture due June 30, 2028.

The offering was completed through a syndicate of underwriters co-led by TD Securities Inc. and Scotia Capital Inc., and included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., iA Private Wealth Inc., Raymond James Ltd., Haywood Securities Inc., Laurentian Bank Securities Inc., and Leede Jones Gable Inc.

Cassels acted for the underwriters.

RELATED EXPERTISE: Securities | Real Estate & Development | Tax & Trusts