Summit Industrial Income REIT closes $46M bought deal

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 T├ętrault LLP and Stikeman Elliott LLP acted as legal counsels to Summit and the underwriters respectively.

photo credit: Summit Industrial Income REIT