Artis Real Estate Investment Trust | Preferred Units, Series C (AX.PRE.CA)
Prospectus excerpt: This prospectus supplement, together with the short form base shelf prospectus to which it relates, qualifies the distribution of 4,000,000 Preferred Units, Series E (“Series E Units”) of Artis Real Estate Investment Trust (“Artis”) (the “Offering”) at a price of $25.00 per Series E Unit (the “Offering Price”) pursuant to an underwriting agreement dated March 14, 2013 (the “Underwriting Agreement”) between Artis and RBC Dominion Securities Inc. and CIBC World Markets Inc., 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., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc. and Raymond James Ltd. (collectively, the “Underwriters”). The Offering Price and terms of the Series E Units were determined by negotiation between Artis and RBC Dominion Securities Inc. and CIBC World Markets Inc., as co-lead underwriters, on behalf of the Underwriters. For the initial period commencing on the Closing Date (as defined herein) and ending on and including September 30, 2018 (the “Initial Fixed Rate Period”), the holders of Series E 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 $1.1875 per Series E Unit. The initial distribution will be payable on June 30, 2013 and is expected to be $0.3286 per Series E Unit, based on the anticipated closing date of the Offering of March 21, 2013. The closing of the Offering shall be March 21, 2013, or such other date as Artis and the Underwriters may agree, but in no event later than March 28, 2013 (the “Closing Date”). See “Details of the Offering”.
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