TORONTO–(BUSINESS WIRE)–Starlight Investments Capital LP (“Starlight Capital” or the “Investment Manager”) is pleased to announce that Starlight Hybrid Global Real Assets Trust (the “Trust”) (NEO: SCHG.UN) intends to complete a private placement offering (the “Offering”), consisting of both a brokered private placement of Series B units (“Series B Units”) and Series F units (“Series F Units”) of the Trust (the “Brokered Offering”) and a non-brokered private placement of Series C units (“Series C Units”) of the Trust for gross proceeds of up to $50,000,000.
The offer price (“Offer Price”) of each Series B Unit and Series F Unit will be equal to $11.22 and $10.93, respectively. The Offer Price was calculated based on the net asset value (“NAV”) per Series C Unit on October 31, 2019, plus agents’ fees and costs of the Offering. The Offer Price of each Series C Unit will be equal to the NAV per Series C Unit on November 29, 2019, plus costs of the Offering.
Subject to customary closing conditions, including the approval of the NEO Exchange Inc., the Offering is expected to close on or about December 12, 2019. The securities issued in connection with the Offering will be subject to a four month hold period, in accordance with applicable securities laws.
The net proceeds of the Offering will be used to purchase securities for the Trust’s portfolio in accordance with the Trust’s investment objectives and investment strategy and for general operating purposes.
The Brokered Offering is being made through a syndicate of agents led by GMP Securities L.P., and including CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Mackie Research Capital Corporation.
About Starlight Capital and Starlight Investments
Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a privately-held, full service, real estate investment and asset management company. The firm manages over $12.0 billion of assets on behalf of institutional joint ventures as well as publicly listed REITs, closed end funds and investment funds and is driven by an experienced team of over 200 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. The NEO Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved. Forward-looking information includes, without limitation, statements with respect to the completion of the proposed Offering.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Known and unknown risk factors, many of which are beyond the control of the Trust could cause actual results to differ materially from the forward-looking information in this press release. Accordingly, readers should not place undue reliance on forward-looking information. The Trust does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.
Senior Vice President, National Sales & Distribution
Chief Executive Officer &
Chief Investment Officer