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Private placements (Securities)

AIP Realty Trust Extends Price Reservation on Non-Brokered Private Placement

Strategic Insights

— 1 min read

AIP Realty Trust has received approval from the TSX Venture Exchange to extend the price reservation on its non-brokered private placement for an additional 30 days until July 26, 2024. This move is aimed at closing a second tranche and any additional tranches of the financing, which consists of the issuance of up to 6,000,000 Preferred Units Series B Convertible. The trust plans to use the proceeds for working capital and general corporate purposes.

Key Takeaways:

  • AIP Realty Trust has extended the price reservation on its non-brokered private placement by 30 days until July 26, 2024.
  • The Financing consists of the issuance of up to 6,000,000 Preferred Units Series B Convertible at a price of US$0.50 per Preferred Unit for aggregate gross proceeds of up to US$3,000,000.
  • An aggregate of 1,100,000 Preferred Units for aggregate gross proceeds of US$550,000 have been issued under the first tranche.
  • The trust intends to use the proceeds for working capital and general corporate purposes.
  • The trust has received approval from the TSX Venture Exchange, allowing them to close a second tranche and any additional tranches of the financing.
  • AIP Realty Trust is a real estate investment trust with a growing portfolio of AllTrades branded Serviced Industrial Business Suites (SIBS) light industrial flex facilities.
  • The trust has exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, Inc.

Statistics:

  • Up to 6,000,000 Preferred Units Series B Convertible will be issued.
  • The price of each Preferred Unit is US$0.50.
  • Aggregate gross proceeds of up to US$3,000,000 will be received.
  • An aggregate of 1,100,000 Preferred Units have been issued under the first tranche.
  • Gross proceeds of US$550,000 have been received under the first tranche.
  • The Financing is subject to approval from the TSX Venture Exchange.

Sources:

  • GlobeNewswire
  • AIP Realty Trust (TSXV: AIP.U)

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