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Cassels Brock Represents the Underwriters in PROREIT's $28.75 Million Equity Offering

Published: 01/29/2018

Team: Jay F. King, Jackson Phillips, Patricia Wood, Ardy Mohajer, Kwaku Tabi, James G. Morand, Tera Li

On January 29, 2018, PRO Real Estate Investment Trust closed an equity offering of 12,500,500 trust units at a price of $2.30 per trust unit for total gross proceeds of $28.75 million, which included exercise of the over-allotment option in full by the underwriters.

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

Cassels Brock acted for the underwriters with a deal team composed of Jay King, Jackson Phillips and Patricia Wood (Securities) and Ardy Mohajer and Kwaku Tabi (Real Estate) and Jim Morand and Tera Li (Tax).