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American Hotel Income Properties REIT LP Completes Exercise Of Over Allotment Option Associated With Recent Initial Public Offering


Friday, 1 Mar 2013 09:43am EST 

American Hotel Income Properties REIT LP announced that the exercise of the remaining balance of the over-allotment option associated with its recent Initial Public Offering has been completed, resulting in the issuance of an additional 435,000 limited partnership units (Units) at a price of CAD10.00 per Unit for gross proceeds of CAD4.35 million.This issuance completes the exercise of the over-allotment option in full, as described in AHIP's final prospectus dated February 12, 2013, and increases the total gross proceeds from AHIP's initial public offering to CAD100.1 million. The offering was underwritten by a syndicate of underwriters co-led by Canaccord Genuity Corp. and National Bank Financial Inc., and included TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., Dundee Securities Ltd., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Burgeonvest Bick Securities Limited and Haywood Securities Inc. The net proceeds of the offering and over-allotment have been used to indirectly acquire 32 hotel properties located in 19 U.S. states which focus on railroad employee accommodation, with the remainder to be used to acquire additional suitable hotel properties and for general working capital purposes. 

Company Quote

10.78
-0.03 -0.28%
19 Sep 2014