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Pure Industrial REIT grosses C$144M in bought-deal offering

Pure Industrial Real Estate Trust closed its bought-deal public offering for total gross proceeds of roughly C$143.9 million.

The company sold 23,977,500 class A trust units at C$6.00 apiece, including 3,127,500 units sold pursuant to the full exercise of the overallotment option.

Net proceeds are earmarked to repay existing debt, fund new acquisitions and for general corporate purposes.

The syndicate of underwriters was co-led by BMO Capital Markets and RBC Capital Markets, and included CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities LP, Raymond James Ltd., TD Securities Inc., Eight Capital and Industrial Alliance Securities Inc.