H&R REIT Announces Equity Financing
bill, further to your speculating about an RPC takeover, how about H&R picking up some of the remaining RPC assets with this infusion of cash ???
HR.UN 2001-10-16
Toronto, Ontario --
H&R Real Estate Investment Trust ("H&R") has today entered into
an agreement with a syndicate of underwriters led by Merrill
Lynch Canada Inc. for the purchase by the underwriters on a
bought deal basis, subject to regulatory approval, of 10,000,000
trust units (the "Trust Units") at a price of $12.45 per Trust
Unit, raising total proceeds of $124,500,000. In addition, H&R
has granted the underwriters an over-allotment option, expiring
at closing, for up to an additional 15% of the offering. A
preliminary short-form prospectus to qualify the offering for
distribution to the public will be filed with securities
regulatory authorities on or before October 18, 2001.
Purchasers of Units offered hereby will be eligible to
participate in the distributions for the month of November
provided closing is on November 2, 2001 and the purchasers are
unitholders as at the record date for such distributions.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
Closing is expected on or about November 2, 2001.
For further information, please contact:
Eric Cohen, Chief Financial Officer
H&R REIT
416-635-7520
www.hr-reit.com |
