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Financings

Primaris closes $21.4-million overallotment option

By The Northwire Desk — AI Analysis Oct 21, 2025 · 18:47 PMZ · 15.49 Primaris Real Estate Investment Trust
PMZ · Price

Executive Summary

  • Primaris Real Estate Investment Trust has closed the issuance of an additional 1,448,599 trust units following the full exercise of the underwriters' over-allotment option.
  • The transaction generated approximately $21.4 million in gross proceeds, bringing the total gross proceeds of the public offering to approximately $168.9 million.
  • Net proceeds from this specific tranche are designated for paying down debt associated with the recently completed acquisition of Promenades St-Bruno.

Key Details

  • Units Issued: 1,448,599 trust units.
  • Gross Proceeds (Over-allotment): Approximately $21.4 million.
  • Total Gross Proceeds (Original Offering + Over-allotment): Approximately $168.9 million.
  • Original Offering Size: 10 million units, completed on Oct. 10, 2025.
  • Use of Proceeds: To pay down debt relating to the acquisition of Promenades St-Bruno.
  • Underwriters: Led by TD Securities Inc., RBC Capital Markets, and Desjardins Capital Markets as joint bookrunners.
  • Syndicate Members: CIBC Capital Markets, Scotiabank, National Bank Financial Inc., Canaccord Genuity Corp., and Raymond James Ltd.
  • Regulatory Filings: Prospectus supplement dated Oct. 7, 2025, filed under the Short Form Base Shelf Prospectus dated Aug. 6, 2024.
  • Listing: Units offered in all provinces and territories of Canada.

Notable Quotes

  • None provided in the text.
Read the original news release →

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