Alaris Equity Partners completes bought deal financing

March 09, 2021

Torys represented the syndicate of underwriters co-led by Acumen Capital Finance Partners, Cormark Securities, CIBC Capital Markets, National Bank Financial and RBC Capital Markets with a team that included Scott Cochlan, Jennifer Baugh and Michael Despres (corporate/securities).

On March 3, 2021, Alaris Equity Partners Income Trust (the "Trust") announced the closing of its bought deal short-form prospectus offering of 5,312,500 trust units at a price of C$16.00 per unit for aggregate gross proceeds of C$85 million

The offering was co-led by Acumen Capital Finance Partners Limited, Cormark Securities Inc., CIBC Capital Markets, National Bank Financial Inc. and RBC Capital Markets and included Desjardins Securities Inc. and Scotia Capital Inc.

On March 9, 2021, it was announced that the underwriters concluded the partial exercise of their over-allotment option to purchase an additional 596,875 trust units at the offering price for additional gross proceeds of C$9,550,000. With the partial exercise of the over-allotment option, Alaris issued an aggregate of 5,909,375 trust units pursuant to the offering for aggregate gross proceeds of C$94,550,000.

The Trust will use the net proceeds of the offering to repay debt outstanding under its credit facility, which included amounts recently drawn to fund investments of US$66 million and US$22.5 million into Brown & Settle Investments, LLC and 3E, LLC respectively.

Further information can be found on Canada Newswire’s website.

Alaris Equity Partners Income Trust, through its subsidiaries, indirectly provides alternative financing to private companies in exchange for distributions with the principal objective of generating stable and predictable cash flows for payment of distributions to unitholders of the Trust.