New Stock Arbitrage — BTB REAL ESTATE

Here is a summary of our most recent Stock Arbitrage transaction that we have participated in. The stock involved were issued by BTB Real Estate, a major owner of properties in eastern Canada.

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. BTB owns 70 commercial, office and industrial properties for a total of more than 5.2 million square feet.

BTB announced that it has reached an agreement with a syndicate of underwriters led by National Bank Financial Inc. to issue new stock units to the public.

The net proceeds from the offering (after deducting the Underwriters’ fee and expenses of the offering) will be used to finance the acquisition of two properties: a retail property located at 1325 Saint-Catherine Street West and an adjacent mixed-use property located at 1411 Crescent Street in Montreal.

Stock Name BTB REAL ESTATE
Stock Symbol BRE
Exchange TSX, Toronto Stock Exchange
Issuer BTB Real Estate Investment Trust
Issue Size 5,435,000 trust units,the total fund-raising amount will be $25,001,000. The underwriters shall have an over-allotment of 6,250,250 trust units for addition gross proceeds  of $53,752,150.
Issue Price $ 4.60 Per Share
Closing Date On or about June 19th 2018
Underwriter National Bank Financial Inc.

 

Since the market opened today, BTB’s share price varies between $4.560 and $4.580. Our new stock arbitrage club obtains 200,000 shares at a subscription price of $4.508 while short sell at the market price of $4.57, achieving a risk-free profit of $0.062 per share. The new stock arbitrage opportunity exists for a very short time and now it had closed.

 

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