WPT Industrial REIT completes bought deal financing, concurrent private placement

WPT Industrial Real Estate Investment Trust (“the REIT”) completed a public offering of 6,244,385 trust units at a price of US$11.05 per unit for gross proceeds to the REIT of approximately US$69 million, including the full exercise of the over-allotment option.

Concurrent with the public offering, Alberta Investment Management Corp. (AIMCo) purchased 1,357,475 units of the REIT, on behalf certain of its clients, at a price of US$11.05 per unit, on a non-brokered private-placement basis, for gross proceeds to the REIT of approximately US$15 million.

The offering was made through a syndicate of underwriters that was co-led by Desjardins Securities Inc., CIBC Capital Markets and RBC Dominion Securities Inc., with Desjardins Securities Inc. and CIBC Capital Markets acting as joint bookrunners, and including BMO Nesbitt Burns Inc., National Bank Financial Inc., GMP Securities L.P., Scotia Capital Inc. and TD Securities Inc.

The REIT was represented internally by Matthew Cimino (General Counsel and Secretary). Blake, Cassels & Graydon LLP acted as Canadian counsel to the REIT, with a team that included William Fung, Matthew Merkley, Alison Desipio and Yousaf Khan (securities) and Andrew Spiro and Sabrina Wong (tax). Briggs and Morgan, Professional Association acted as US counsel to the REIT with a team that included Nathan List (securities) and James Duffy (tax).

The syndicate of underwriters were represented by Davies Ward Phillips & Vineberg LLP, with a team in Canada that included Jim Reid and Jared Solinger (securities) and Raj Juneja and Chris Anderson (tax); and a team in the United States that included Scott Fisher (securities) and Peter Glicklich and Heath Martin (tax).

AIMCo was represented internally by Brad Cowburn and Jon Reay. Torys LLP acted as counsel to AIMCo with a team that was composed of John Emanoilidis, Michael Zackheim, Robert Shaw and Jacob Posen (securities).