On December 5, 2002, Harvest Energy Trust, a Calgary-based oil and natural gas trust, completed an initial public offering of 3.75 million trust units at $8 per trust unit for gross proceeds of $30 million. The net proceeds of the offering will be used to repay an interim loan provided to Harvest, with the balance being used to reduce debt outstanding under an existing credit facility and to finance Harvest’s ongoing development and acquisition programmes. The offering was underwritten by a syndicate led by FirstEnergy Capital Corp., and including Haywood Securities Inc. The underwriters exercised an option to purchase an additional 562,500 units for gross proceeds of $4.5 million on December 17, 2002.
Harvest was represented by Burnet, Duckworth & Palmer LLP, with a team that included John Brussa (tax), Grant Zawalsky, Shannon Gangl and Tom Mix (corporate/securities), Cal Johnson and Trish Fehr (banking) and Miles Pittman (oil and gas). The underwriters were represented by Blake, Cassels & Graydon LLP, with a team that included Brock Gibson and Scott Cochlan (corporate/securities), Ben Rogers (oil and gas) and Kevin Fougere (corporate/banking).
Harvest was represented by Burnet, Duckworth & Palmer LLP, with a team that included John Brussa (tax), Grant Zawalsky, Shannon Gangl and Tom Mix (corporate/securities), Cal Johnson and Trish Fehr (banking) and Miles Pittman (oil and gas). The underwriters were represented by Blake, Cassels & Graydon LLP, with a team that included Brock Gibson and Scott Cochlan (corporate/securities), Ben Rogers (oil and gas) and Kevin Fougere (corporate/banking).
