Date Closed

May 12, 2022

Lead Office

Toronto

Value

15.00 Million CAD

On May 12, 2022, Middlefield Group, on behalf of Real Estate Split Corp. completed the overnight offering of Class A and Preferred Shares for aggregate gross proceeds of approximately C$15.2 million. The Class A Shares and Preferred Shares will trade on the Toronto Stock Exchange under the existing symbols RS (Class A Shares) and RS.PR.A (Preferred Shares). The Class A Shares were offered at a price of $18.00 per Class A Share to yield approximately 8.7% per annum and the Preferred Shares were offered at a price of $10.10 per Preferred Share to yield approximately 5.2% per annum.

The syndicate of agents for the offering was co-led by CIBC Capital Markets and RBC Capital Markets, and included Hampton Securities Limited, National Bank Financial Inc., Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., Raymond James Ltd., TD Securities Inc., 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. with a team led by Andrew Armstrong that included Michael Eldridge, Paul Santache (Business), Fred Purkey and Gabrielle Richards (Tax).