New stock arbitrage — Dream Industrial Real Estate Investment Trust
Dream Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. Its portfolio comprises industrial properties located in key markets across Canada and the U.S. Its objective is to build upon and grow its portfolio and to provide stable and sustainable cash distributions to its unitholders.
Dream Industrial REIT announced today that it has entered into an agreement to sell 10,850,000 trust units of the Trust on a bought deal basis at a price of $11.55 per Unit to a syndicate of underwriters led by TD Securities Inc. for gross proceeds of $125,317,500. The Trust intends to use the net proceeds from the Offering to fund four acquisitions in the Trust’s target markets, to partially repay the outstanding balance on its revolving credit facility and for general trust purposes. The offering is expected to close on or about April 25, 2019.