Date Closed

August 30, 2021

Lead Office

Toronto

Value

31.30 Million CAD

On August 30, 2021, Real Estate & E-Commerce Split Corp. completed its overnight offering of class A and preferred shares for aggregate gross proceeds of approximately C31.3 million. The Class A Shares were offered at a price of $20.50 per Class A Share to yield 7.6% and the Preferred Shares were offered at a price of $10.00 per Preferred Share to yield 5.3%. Middlefield Capital Corporation provides investment management advice to Real Estate & E-Commerce Split Corp.

The syndicate of agents for the offering was co-led by CIBC Capital Markets and RBC Capital Markets, and included National Bank Financial Inc., Scotiabank, Hampton Securities Limited, BMO Capital Markets, Canaccord Genuity Corp., TD Securities Inc., Raymond James Ltd., iA Private Wealth Inc., Richardson Wealth Limited, Manulife Securities Inc., Desjardins Securities Inc., Middlefield Capital Corporation and Research Capital Corporation.

McCarthy Tétrault advised CIBC World Markets Inc., as lead agent, with a team led by Andrew Armstrong that included Michael Eldridge, Paul Santache (Capital Markets), Gabrielle Richards and Fred Purkey (Tax).