The manager also announced that the issue price for the proposed preferential offering has been fixed at $2.64 per new unit, representing a 3.6% discount to adjusted VWAP and a 4.3% discount to VWAP. 117.6 million new units will be issued under the offering, on the basis of 5 new units for every 100 existing units held by eligible unitholders, which will raise $310.4 million in gross proceeds.
SEE:Mapletree Industrial Trust seeks to raise $800 mil via private placement and preferential offering
To that end, the total gross proceeds from the equity fund raise will total approximately $823.3 million. Out of the proceeds, $726.5 million will be used to partially fund the proposed acquisition of a portfolio of US data centres, $62.2 million will be used to repay MINT’s debt, $14.6 million will be utilised for fees and expenses, while $20 million will be to fund future acquisitions and/or for general corporate and working capital purposes.
Units in MINT closed flat at $2.76 on May 19 before trading was halted on May 20.
