Transaction|August 3, 2012
First Capital Realty completes C$47 million offering of units
Torys acted as counsel to First Capital Realty with a team that included Simon Knowling, Michael Zackheim, Anthony Tam and Min Kim (corporate/securities), Andrew Wong (tax) and Andy Beck (U.S. securities).
On August 3, 2012, First Capital Realty Inc. (TSX: FCR) (the Company) closed its public offering of 2,500,000 units (the Units) of the Company at a price of C$18.75 per Unit for gross proceeds of C$46,875,000. Each Unit consists of one common share of the Company (a Common Share) and one common share purchase warrant of the Company (a Warrant). The Common Shares and the Warrants separated immediately upon closing of the offering. Each Warrant will entitle the holder to acquire at any time up to 5:00 p.m. (Toronto time) on August 2, 2013, one Common Share of the Company at an exercise price of C$19.75, subject to adjustment in certain events. The Toronto Stock Exchange (the TSX) has conditionally approved the listing of the Warrants (under the symbol FCR.WT.B), subject to the Company fulfilling all of the listing requirements of the TSX.
The offering was underwritten on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.
The net proceeds of the offering will be used for development and redevelopment activities, acquisitions and for general corporate purposes.
First Capital Realty is an owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets.
Further information can be found on Canada Newswire's website.
The offering was underwritten on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.
The net proceeds of the offering will be used for development and redevelopment activities, acquisitions and for general corporate purposes.
First Capital Realty is an owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets.
Further information can be found on Canada Newswire's website.