MATRIX Income Fund, a closed-end investment trust listed on the Toronto Stock Exchange, completed its $300 million initial public offering on March 1, 2005. The objectives of MATRIX are to pay monthly distributions to its unitholders, to return at least the original subscription price to unitholders upon termination of the trust, and to enhance long-term total return through capital appreciation of the Trust’s investment portfolio. The net proceeds of the offering will be invested in an actively managed portfolio of securities with a focus on income trusts with a market capitalization equal to or less than $400 million.
The advisor to MATRIX is Middlefield Capital Corp., which is responsible for providing investment advice to the trust’s portfolio. CIBC World Markets Inc. and RBC Dominion Securities Inc. acted as co-lead agents of the offering. The other syndicate members were BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corp., First Associates Investments Inc., Wellington West Capital Inc., Desjardins Securities Inc., Dundee Securities Corp., Raymond James Ltd., Acadian Securities Inc., Middlefield Capital Corp. and Research Capital Corp.
MATRIX and Middlefield were represented by the Toronto office of Fasken Martineau DuMoulin LLP with a team comprised of Stephen Erlichman, John Sabetti, Jeffrey Klam and Daniel Rankin (securities) and Mitchell Thaw (tax).
The agents were represented by the Toronto office of Osler, Hoskin & Harcourt LLP with a team comprised of Andrew Aziz and Lori Stein (securities) and Andrew McGuffin and Timothy Hughes (tax).
The advisor to MATRIX is Middlefield Capital Corp., which is responsible for providing investment advice to the trust’s portfolio. CIBC World Markets Inc. and RBC Dominion Securities Inc. acted as co-lead agents of the offering. The other syndicate members were BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corp., First Associates Investments Inc., Wellington West Capital Inc., Desjardins Securities Inc., Dundee Securities Corp., Raymond James Ltd., Acadian Securities Inc., Middlefield Capital Corp. and Research Capital Corp.
MATRIX and Middlefield were represented by the Toronto office of Fasken Martineau DuMoulin LLP with a team comprised of Stephen Erlichman, John Sabetti, Jeffrey Klam and Daniel Rankin (securities) and Mitchell Thaw (tax).
The agents were represented by the Toronto office of Osler, Hoskin & Harcourt LLP with a team comprised of Andrew Aziz and Lori Stein (securities) and Andrew McGuffin and Timothy Hughes (tax).
Lawyer(s)
Stephen I. Erlichman
Andrew S. McGuffin
John M. Sabetti
Jeffrey D. Klam
Lori Stein
Andrew W. Aziz
Timothy Hughes
Daniel Rankin
Mitchell L. Thaw