TORONTO, ON--(Marketwired - May 04, 2016) - Slate Retail REIT (
Further to the REIT's press release dated April 20, 2016 with respect to the results of the Rights Offering, the REIT issued 3,539,175 class U trust units ("Units") on April 25, 2016 or 100% of the Units available under the Rights Offering for gross proceeds of approximately US$36.6 million (CAD$46.4 million). The Rights Offering was 46% over-subscribed and the REIT returned the excess subscription funds of approximately US$16.9 million (CAD$21.4 million) back to subscribers pursuant to the terms of the Rights Offering.
In addition, the REIT is now able to provide the following additional information concerning the allocation of Units pursuant to the Rights Offering:
About Slate Retail REIT
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Slate Retail REIT is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates approximately US$1 billion of assets located primarily across the top 50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions. Visit slateam.com/SRT to learn more about the REIT.
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $3 billion in assets under management. Slate is a value oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more about Slate Asset Management L.P.
Forward-Looking Statements
Certain statements herein may be forward-looking statements within the meaning of applicable securities laws. These statements reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities of the REIT including expectations for the current financial year, and include, but are not limited to, statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Statements that contain words such as "could", "should", "would", "anticipate", "expect", "believe", "plan", "intend", "will", "may", "might" and similar expressions or statements relating to matters that are not historical facts constitute forward-looking statements.
These forward-looking statements are not guarantees of future events or performance and, by their nature, are based on the REIT's current estimates and assumptions, which are subject to significant risks and uncertainties. Forward-looking statements contained herein are made as the date hereof and accordingly are subject to change after such date. The REIT does not undertake to update any forward-looking statements that are contained herein except as expressly required by applicable securities laws.
Contact Information:
For Further Information
Investor Relations
Slate Asset Management L.P.
+1 416 644 4264
ir@slateam.com