HealthLease Properties Real Estate Investment Trust completed a public offering of 7.5 million trust units, inclusive of 500,000 units issued pursuant to the exercise of the over-allotment option, on a bought deal basis, at a price of $10 per unit for a total of $75 million.
The offering was conducted through a syndicate of underwriters led by BMO Nesbitt Burns Inc. and National Bank Financial Inc., and included Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Ltd., Raymond James Ltd., and Euro Pacific Canada Inc.
HealthLease intends to use the net proceeds of the offering primarily to fund a portion of the price of seven properties, for the repayment of debt in respect of two recently acquired properties, and for general trust purposes.
HealthLease was represented in Canada by Goodmans LLP with a team including Stephen Pincus, Mark Spiro, Chat Ortved and Annabelle Gardere (corporate/securities); and Jon Northup and Jarrett Freeman (tax); and in the United States by Krieg DeVault LLP with a team including Michael Messaglia, Karen Woods and Robert Wild (corporate/securities) and Matthew Carr (tax).
The syndicate of underwriters was represented by Davies Ward Phillips & Vineberg LLP in Canada with a team including Jim Reid and Gillian Muirhead (corporate/ securities); and Neal Armstrong and Raj Juneja (tax), and a team in the United States including Scott Tayne (corporate/securities) and Abe Leitner (tax).