Primaris closes $147.5-million bought deal offering

Executive Summary

• Primaris REIT closed a bought‑deal public offering of 10 million units at $14.75 per unit, raising $147.5 million in gross proceeds.
• Net proceeds will be used to fund the previously announced acquisition of Promenades St‑Bruno from Cadillac Fairview.
• Underwriters received an overallotment option for up to 1,448,599 additional units exercisable within 30 days.

Key Details

• Offering size: 10 million trust units.
• Price per unit: $14.75.
• Gross proceeds: $147.5 million.
• Underwriters: TD Securities Inc., RBC Capital Markets, Desjardins Capital Markets (book‑run syndicate).
• Overallotment option: Up to 1,448,599 additional units at the same price, exercisable any time within 30 days of closing.
• Use of proceeds: Net proceeds will be delivered to the vendor as part of the closing of the acquisition of Promenades St‑Bruno in Montreal from Cadillac Fairview.
• Prospectus supplement filing date: October 7, 2025 (under short‑form base shelf prospectus dated August 6, 2024).

Notable Quotes

(No quotes provided in the release.)