DRI Healthcare Trust closes C$104 million bought deal offering
On September 20, 2023, DRI Healthcare Trust (the "Trust") announced the closing of its previously announced bought deal public offering of units, including the exercise in full of the underwriters' over-allotment option, for a total of 9,430,000 units sold at a price of C$11.00 per unit for gross proceeds of C$104 million.
The offering, announced September 12, 2023, was led by Scotiabank, CIBC Capital Markets and RBC Capital Markets, and included a syndicate of underwriters including National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., BofA Securities, UBS Securities Canada Inc. and Stifel.
The Trust intends to use the net proceeds of the offering to fund its near term pipeline of royalty transactions.
Further information can be found on Canada Newswire’s website.
DRI Healthcare Trust is managed by DRI Capital Inc., a pioneer in global pharmaceutical royalty monetization with a more than 30-year history of accelerating innovation by providing capital to inventors, academic institutions and biopharma companies.