All amounts are stated in Canadian dollars
unless otherwise indicated
/NOT FOR DISTRIBUTION IN THE UNITED STATES FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./
TSX-AD.UN
CALGARY, AB, March 9, 2021
/CNW/ - Alaris Equity Partners Income Trust ("Alaris"
or the "Trust") announces today that under its bought deal
financing (the "Offering") which closed on March 3, 2021, the underwriters of the Offering
have partially exercised and concluded their over-allotment option
to purchase an additional 596,875 trust units of the Trust (the
"Trust Units") at the offering price of $16.00 per Trust Unit for additional gross
proceeds of $9,550,000. As a result
of closing of the over-allotment option, Alaris issued an aggregate
of 5,909,375 Trust Units pursuant to the Offering for aggregate
gross proceeds of $94,550,000. The
net proceeds from the exercise of over-allotment option will be
used by Alaris to repay outstanding indebtedness under its
subsidiary's credit facility (the "Facility"), including
amounts recently drawn to fund Alaris' recently announced
investments in Brown & Settle Investments, LLC and 3E, LLC.
The Offering was conducted through a syndicate of underwriters
co-led by Acumen Capital Finance Partners Limited, Cormark
Securities Inc., CIBC Capital Markets, National Bank Financial Inc.
and RBC Capital Markets (collectively, the
"Underwriters").
In connection with the closing of the over-allotment option,
Alaris and the Underwriters have agreed to terminate the remaining
and unexercised portion of the over-allotment option and the
Underwriters have advised Alaris that all distribution activities
relating the Offering have ceased.
About the Trust:
Alaris, through its subsidiaries, provides alternative financing
to private companies ("Partners") in exchange for
distributions, dividends or interest (collectively, "Partner
Distributions") with the principal objective of generating
stable and predictable cash flows for distribution payments to its
unitholders. Partner Distributions are adjusted annually based on
the percentage change of a "top-line" financial performance measure
such as gross margin or same store sales and rank in priority to
the owner's common equity position.
This press release is not an offer of Trust Units for sale in
the United States. The Trust Units
may not be offered or sold in the United
States. Alaris has not registered and will not register the
Units under the U.S. Securities Act of 1933, as amended. Alaris
does not intend to engage in a public offering of Trust Units in
the United States. This press
release shall not constitute an offer to sell, nor shall there be
any sale of, the Trust Units in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements,
including forward-looking statements within the meaning of "safe
harbor" provisions under applicable securities laws
("forward-looking statements"). Statements other than statements of
historical fact contained in this news release may be
forward-looking statements, including, without limitation,
management's expectations, intentions and beliefs concerning the
repayment of outstanding indebtedness under the Facility. Many of
these statements can be identified by words such as "believe",
"expects", "will", "intends", "projects", "anticipates",
"estimates", "continues" or similar words or the negative thereof.
By their nature, forward-looking statements require Alaris to make
assumptions and are subject to inherent risks and
uncertainties. Key assumptions include, but are not limited
to, assumptions that the net proceeds of the Offering will be used
in the manner set forth herein. Forward-looking statements are
subject to risks, uncertainties and assumptions and should not be
read as guarantees or assurances of future performance. The actual
results of the Trust could materially differ from those anticipated
in the forward-looking statements contained herein as a result of
certain risk factors, including, but not limited to that the use of
proceeds from the Offering as described herein may change. The
forward looking statements contained in this press release are made
as of the date hereof and Alaris undertakes no obligations to
update publicly or revise any forward looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities
laws.
Neither the TSX nor its Regulation Services Provider (as
that term is defined in the policies of the TSX) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Alaris Equity Partners Income Trust