Real Estate Split Corp. Announces Successful Overnight Offering

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TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Real Estate Split Corp. (TSX:RS) (the "Company"), is pleased to announce a successful overnight treasury offering of class A and preferred shares (the "Class A Shares" and "Preferred Shares", respectively). Gross proceeds of the offering are expected to be approximately $46.4 million.

The offering is expected to close on or about Wednesday, October 30, 2024 and is subject to certain closing conditions including approval by the Toronto Stock Exchange.

The Class A Shares were offered at a price of $12.90 per Class A Share to yield 12.1% and the Preferred Shares were offered at a price of $10.10 per Preferred Share to yield 4.4% to maturity. The Class A Share and Preferred Share offering prices were determined so as to be non-dilutive ...