At this price of 19.35 US cents, it is a 10% discount to the volume weighted average price of 21.5 US cents on Sept 24.
"The private placement saw good participation from a quality mix of new and existing long only funds, private wealth and multi-strategy investors," says Prime US REIT.
The REIT plans to use proceeds from the placement to make its properties more attractive and to attract tenants.
In a sign of growing confidence of the US office market, it plans to increase the distribution to unitholders from 10% of distributable income to 50% for this current half year.
See also: Lincotrade & Associates to raise $2.2 mil via 10 mil share placement
DBS Bank and Maybank Securities are the joint bookrunners and underwriters for this deal.
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