On December 28, 2017, Firm Capital American Reality Partners Corp (“Firm Capital”) announced the closing of the public offering (the “Offering”) of 467,000 common shares of the Corporation for gross proceeds of approximately U.S.$3.5 million. Firm Capital completed the Offering at a price of U.S.$7.50 or CDN$9.64 per offered common share. The Offering was made pursuant to a prospectus supplement dated December 19, 2017 to Firm Capital’s short form base shelf prospectus dated September 15, 2017, and was conducted by a syndicate of underwriters led by Canaccord Genuity Corp., and including Echelon Wealth Partners Inc., GMP Securities L.P., Industrial Alliance Securities Inc. and TD Securities Inc. Firm Capital will use the net proceeds of the Offering to fund prospective acquisitions of income producing multi-family real estate properties in the U.S.
Fasken Martineau advised Canaccord Genuity Corp. with a team that included John Sabetti, Daniel Fuke, Niusha Arbabi and Scott Ma (Real Estate), with assistance from Edward Guo (Counsel) and Sophie MacRae (student-at-law).
