First Asset

First Asset
Preferred Share Investment Trust

Preferred Share Investment Trust

August 24, 2012 08:33 ET

Preferred Share Investment Trust Closes Follow-On Offering

TORONTO, ONTARIO--(Marketwire - Aug. 24, 2012) - Preferred Share Investment Trust (the "Fund") (TSX:PSF.UN) announces that it has completed its follow-on offering (the "Offering") of 5,129,000 treasury units (the "Units"), including the over-allotment option, at $11.27 per Unit, for gross proceeds of approximately $57.8 million.

As previously announced, the Manager will reimburse the Fund for its portion of Offering expenses and agency fees by way of a promissory note. Accordingly, the net asset value per Unit will be unaffected by the expenses of the Offering. The net asset value as of August 23, 2012 is $11.18.

The syndicate of agents for this offering was led by CIBC, co-led by National Bank Financial Inc., RBC Capital Markets and TD Securities Inc, and included BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc. and Raymond James Ltd.

Contact Information

  • First Asset
    Rob MacNiven
    Investor Relations
    416-642-1289 or 1-877-642-1289