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PROREIT Announces $35 million Public Offering of Convertible Debentures

Newswire.ca - Wed May 17, 2023

/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH UNITED STATES NEWS OR WIRE SERVICES./

MONTRÉAL, May 17, 2023 /CNW/ - PRO Real Estate Investment Trust (TSX: PRV.UN) ("PROREIT" or the "REIT") announced today that it has entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc. and Scotiabank (collectively, the "Underwriters"), pursuant to which the Underwriters will purchase $35 million aggregate principal amount of 8.00% convertible unsecured subordinated debentures (the "Debentures") due June 30, 2028 at a price of $1,000 per Debenture (the "Offering"). PROREIT has also granted to the Underwriters an over-allotment option to purchase up to an additional $5,250,000 aggregate principal amount of Debentures at the same price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Offering, to cover over-allotments.

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