Atlas Cold Storage Income Trust Completes Equity Offering

Toronto-based Atlas Cold Storage Income Trust completed an $85 million offering of 7,460,000 trust units (which included the exercise, in full, of the over-allotment option granted to the underwriters to purchase up to an additional 880,000 trust units) to a syndicate of underwriters. The deal closed on September 6, 2002.

The offering price per trust unit was $11.40. Proceeds from the offering were used by the trust to reduce outstanding indebtedness under its credit facilities, to finance certain recent expansions and to provide availability under its credit facilities to finance and complete certain other transactions and acquisitions, as well as for working capital and general corporate purposes. The syndicate of underwriters included BMO Nesbitt Burns Inc., Scotia Capital Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and TD Securities Inc.

Martin Kovnats, Andrew Wilder, Maye Mouftah, Barbara Worndl and Kevin Rooney of Aird & Berlis LLP acted for the trust and Atlas Cold Storage Holdings Inc. The underwriters were represented by Shawn McReynolds, Andrea Daly, Mindy Gilbert and Christian Gauthier of Davies Ward Phillips & Vineberg LLP.


Mindy B. Gilbert Andrea E. Daly Andrew J. Wilder Barbara J. Worndl Christian P. Gauthier D. Shawn McReynolds


Aird & Berlis LLP Davies Ward Phillips & Vineberg LLP