Sign in Subscribe
Stock offerings

CAPREIT Renews At-the-Market Equity Program

Strategic Insights

— 2 min read

Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has renewed its at-the-market equity program, which will allow the company to issue units up to a total value of $300 million from treasury to the public. The previous program, which commenced on February 22, 2024, has ceased, and the new program will be effective until June 15, 2027. The company will use the net proceeds from the program for future investments, repayment of indebtedness, and general business purposes. CAPREIT will issue units directly through the Toronto Stock Exchange or on other permitted marketplaces at the prevailing market price at the time of sale.

Key Takeaways:

  • CAPREIT has renewed its at-the-market equity program, allowing the company to issue units up to a total value of $300 million from treasury to the public.
  • The program will be effective until June 15, 2027, unless terminated prior to such date by CAPREIT or otherwise in accordance with the terms of the Equity Distribution Agreement.
  • The company will use the net proceeds from the program for future investments, repayment of indebtedness, and general business purposes.
  • The program will provide CAPREIT with additional financing flexibility, as needed in the future.
  • CAPREIT will issue units directly through the Toronto Stock Exchange or on other permitted marketplaces at the prevailing market price at the time of sale.
  • Prices may vary among purchasers during the period of distribution.
  • There is no certainty that any units will be offered or sold under the program.
  • Distributions of units through the program will be made pursuant to the terms of an Equity Distribution Agreement dated May 15, 2025, with TD Securities Inc. as the Agent.
  • The program is being established pursuant to a Prospectus Supplement dated May 15, 2025, which has been filed with securities regulators in Canada.
  • The Prospectus Supplement, CAPREIT's base shelf prospectus, and the Equity Distribution Agreement are available on SEDAR+ at www.sedarplus.ca under CAPREIT's profile.
  • This press release does not constitute an offer to sell securities or a solicitation of an offer to buy securities in any jurisdiction where such offer, solicitation, or sale is unlawful.
  • CAPREIT's previous at-the-market equity program, which commenced on February 22, 2024, ceased upon the establishment of the renewed ATM program.

Statistics:

  • Aggregate sale price of units to be issued pursuant to the program: $300 million
  • Total number of units that may be issued pursuant to the program: Not specified
  • Fair value of CAPREIT's residential apartment suites and townhomes as at March 31, 2025: Approximately $14.9 billion
  • Number of residential apartment suites and townhomes owned by CAPREIT as at March 31, 2025: Approximately 46,800
  • Market value of CAPREIT's shares as at March 31, 2025: Not specified

Sources:

  • GlobeNewswire - CAPREIT Announces Renewal of At-the-Market Equity Program (2022)
  • CAPREIT Press Release - Renewal of At-the-Market Equity Program (2022)
  • CAPREIT's short form base shelf prospectus dated May 15, 2025, available on SEDAR+ at www.sedarplus.ca under CAPREIT's profile
  • CAPREIT's Prospectus Supplement dated May 15, 2025, available on SEDAR+ at www.sedarplus.ca under CAPREIT's profile

Read more