Canada’s Killam Closes Public Offering

CanadaNewswire reports Killam Properties, Inc., of Halifax, Nova Scotia, Canada has closed its public share offering of 3,256,000 shares at $10.75 per share, resulting in gross proceeds of $35 million. Killam intends to use the proceeds for future acquisitions, to pay off indebtedness, and general corporate expenses. The underwrites are lead by RBC Capital Markets and include BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Macqurie Capital Markets Canada Ltd., Beacon Securities Limited, Brookfield Financial Corp., and GMP Securities L.P. Up to 30 days following the closing of the offering, the underwriters have the option to purchase 488,400 shares at the same price, which would add $5.3 million to the gross proceeds. The shares may not be sold in the United States without exemption from the United States Securities Act of 1933. According to the 22nd annual Allen Report, Killam ranks as the 17th largest LLC in North America with 9,290 homesites.

(Graphic credit: Killam Properties, Inc.)

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