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Financings

Primaris REIT Announces Closing of Over-Allotment Option

By The Northwire Desk — AI Analysis Oct 21, 2025 · 13:53 PMZ · 15.46 None
PMZ · Price

Executive Summary

  • Primaris Real Estate Investment Trust closed the issuance of an additional 1,448,599 units, generating approximately $21.4 million in gross proceeds.
  • The over‑allotment exercise raises total gross proceeds from the October 10, 2025 offering to about $168.9 million.
  • Net proceeds are earmarked to pay down debt incurred for the recent acquisition of Promenades St‑Bruno.

Key Details

  • Units Issued: 1,448,599 trust units (additional to the original 10,000,000‑unit offering).
  • Gross Proceeds from Over‑Allotment: ~ $21.4 million.
  • Total Gross Proceeds of Offering (including over‑allotment): ~ $168.9 million.
  • Use of Net Proceeds: Debt repayment related to the acquisition of Promenades St‑Bruno.
  • Underwriters’ Over‑Allotment Option: Fully exercised by the syndicate.
  • Lead Bookrunners: TD Securities Inc., RBC Capital Markets, Desjardins Capital Markets.
  • Syndicate Members: CIBC Capital Markets, Scotiabank, National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd.
  • Offering Structure: Units offered across all Canadian provinces and territories under a prospectus supplement dated October 7, 2025, filed pursuant to Primaris’ short‑form base shelf prospectus (dated August 6, 2024).
  • Regulatory Filings: Prospectus supplement available on SEDAR+ (www.sedarplus.com).

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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