In the News
July 03, 2008
First Capital Realty completes common stock offering
First Capital Realty Inc. said July 3 that it completed the sale of 1.6 million of its common shares and 240,000 additional shares pursuant to the exercise of the overallotment option by the underwriters at a price of C$23.60 per common share for total gross proceeds of approximately C$43.4 million.
The company said Gazit Canada Inc., an affiliate of the principal shareholder of First Capital Realty, purchased 300,000 common shares, and Alony-Hetz Properties and Investments Ltd., an associate of First Capital Realty, purchased 100,000 common shares as part of the transaction.
RBC Capital Markets led a syndicate, including BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., TD Securities Inc., Raymond James Ltd., Genuity Capital Markets GP, Blackmont Capital Inc., Canaccord Capital Corp. and Desjardins Securities Inc., as underwriters of the offering.
The net proceeds from this offering will be used by First Capital Realty to pay down amounts owing on certain of its revolving credit facilities, to fund identified and future acquisitions, to fund development activities and for general corporate purposes.
