Artis Real Estate Investment Trust | Preferred Units, Series A (AX.PRA.CA)
Prospectus excerpt: This prospectus supplement, together with the short form base shelf prospectus to which it relates, qualifies the distribution of 3,000,000 Preferred Units, Series A (“Series A Units”) of Artis Real Estate Investment Trust (“Artis”) (the “Offering”) at a price of $25.00 per Series A Unit (the “Offering Price”) pursuant to an underwriting agreement dated July 25, 2012 (the “Underwriting Agreement”) between Artis and RBC Dominion Securities Inc., CIBC World Markets Inc. and Macquarie Capital Markets Canada Ltd., as co-lead underwriters on their own behalf and on behalf of BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Raymond James Ltd. (collectively, the “Underwriters”). The Offering Price and terms of the Series A Units were determined by negotiation between Artis and the Underwriters. For the initial approximately five year period commencing on the Closing Date (as defined herein) and ending on and including September 30, 2017 (the “Initial Fixed Rate Period”), the holders of Series A Units will be entitled to receive fixed cumulative preferential cash distributions, as and when declared by the board of trustees of Artis (the “Board of Trustees”), payable quarterly on the last business day of March, June, September and December in each year at an annual rate equal to $1.3125 per Series A Unit. The initial distribution will be payable on September 30, 2012 and is expected to be $0.2122 per Series A Unit, based on the anticipated closing date of the Offering of August 2, 2012. The closing of the Offering shall be August 2, 2012, or such other date as Artis and the Underwriters may agree, but in no event later than August 9, 2012 (the “Closing Date”). See “Details of the Offering”.
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