Primaris closes $21.4-million overallotment option

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.