Summit Industrial Income REIT closes $46M bought deal

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By Ted Liu

Summit Industrial Income REIT (TSX: SMU.UN) has completed public offering of 7,423,250 units, including full exercise of an over-allotment option to purchase an additional 968,250 units, at a price of $6.20 per unit for gross proceeds of approximately $46.0 million.

The offering was completed by a syndicate of underwriters led by BMO Capital Markets and CIBC Capital Markets, with BMO Capital Markets acting as the sole bookrunner.

McCarthy Tétrault LLP and Stikeman Elliott LLP acted as legal counsels to Summit and the underwriters respectively.

photo credit: Summit Industrial Income REIT