The Chartwell Seniors Housing Real Estate Investment Trust announced today the closing of its previously announced public offerings of 24,913,125 subscription receipts at a price of $8.20 per Subscription Receipt for gross proceeds of $204,287,625 and $135,000,000 aggregate principal amount of 5.7% convertible unsecured subordinated debentures to including the exercise, in full, of the over-allotment options in respect of the Subscription Receipts and the Debentures and the Offerings were completed on a bought deal basis through a syndicate of investment dealers led by RBC Capital Markets.
A net proceeds from the sale of the Subscription Receipts will be held by Computershare Trust Company of Canada pending the completion of the Acquisition in prior to 5:00 p.m on May 30, 2012 or the termination of the Acquisition in chartwell intends to use the entire net proceeds of the offering of the Subscription Receipts to finance, in part, the purchase price for Chartwell's previously announced acquisition of a 8,187 suite Canadian seniors housing portfolio in a co-ownership arrangement with Health Care REIT, Inc. from a group of funds managed by the Maestro group to expected closing date for the Acquisition is May 1, 2012.
The chartwell is a real estate investment trust focused on generating sustainable, stable and growing cash distributions from owning and managing a complete range of seniors housing communities is one of the largest participants in the North American seniors housing business to this press release contains forward-looking information that reflect the current expectations of management about the future results, performance, achievements, prospects or opportunities for Chartwell and the seniors housing industry.
A net proceeds from the sale of the Subscription Receipts will be held by Computershare Trust Company of Canada pending the completion of the Acquisition in prior to 5:00 p.m on May 30, 2012 or the termination of the Acquisition in chartwell intends to use the entire net proceeds of the offering of the Subscription Receipts to finance, in part, the purchase price for Chartwell's previously announced acquisition of a 8,187 suite Canadian seniors housing portfolio in a co-ownership arrangement with Health Care REIT, Inc. from a group of funds managed by the Maestro group to expected closing date for the Acquisition is May 1, 2012.
The chartwell is a real estate investment trust focused on generating sustainable, stable and growing cash distributions from owning and managing a complete range of seniors housing communities is one of the largest participants in the North American seniors housing business to this press release contains forward-looking information that reflect the current expectations of management about the future results, performance, achievements, prospects or opportunities for Chartwell and the seniors housing industry.
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