WPT IndustrialReal Estate Investment Trust raised an additional US$9 million in itsrecently completed publicoffering after the underwritersexercised their overallotment option to buy up to 814,485 more units.
With the sale of the additional units, the total gross proceedsfrom the offering increased to about US$69 million from roughly US$60 million.
WPT Industrial plans to apply the net proceeds from the exercisedoverallotment option to fund future acquisitions of industrial assets in major U.S.distribution and logistics markets and a development project in Indianapolis. Pendingsuch uses, the funds may go toward working capital and general trust purposes.
Alberta Investment Management Corp. did not exercise its optionto boost its subscription in the concurrent private placement.