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Stocks in play: Boardwalk Real Estate Investment Trust

Baystreet.ca
·1 min read

Has increased the size of its previously announced bought deal offering whereby the Trust has entered into an agreement to issue 3,185,000 units of the Trust from treasury on a bought deal basis at a price of $68.50 per Unit to a syndicate of underwriters bookrun by TD Securities Inc. and RBC Capital Markets for total gross proceeds of approximately $218 million. In addition, the Trust has granted the Underwriters an over-allotment option to purchase up to an additional 477,750 Units at the Offering Price, exercisable in whole or in part, for a period of 30 days following closing of the Offering. If the over-allotment option is exercised in full, the gross proceeds of the Offering will total approximately $251 million. Boardwalk Real Estate Investment Trust shares T.BEI.UN are trading down $1.92 at $69.14.

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