PR Newswire
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TORONTO, Oct. 2, 2024 /CNW/ - Primaris Real Estate Investment Trust ("Primaris" or the "Trust") (TSX: PMZ.UN) and Canada Pension Plan Investment Board (the "Selling Unitholder") announced today that they have entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets, Desjardins Capital Markets, TD Securities Inc., CIBC Capital Markets, National Bank Financial Inc. and Scotiabank (the "Underwriters") pursuant to which the Underwriters will purchase, on a bought-deal basis, an aggregate of 4,475,119 units of Primaris ("Units") at a price of $15.55 per Unit (the "Offering"). The Offering consists of a treasury offering of 2,187,836 Units by Primaris and a secondary offering of 2,287,283 Units by the Selling Unitholder. On closing of the Offering, Primaris and the Selling Unitholder will receive gross proceeds of approximately $34.0 million and $35.6 million, respectively. Following the Offering, the Selling Unitholder will not hold any units of the Trust. The Offering is expected to close on or about October 9, 2024, and is subject to customary conditions, including the approval of the Toronto Stock Exchange.
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