Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

COMPASS Income Fund closes US$53 million rights offering

Reading Time 1 minute read Subscribe

COMPASS Income Fund

On April 21, 2010, COMPASS Income Fund (TSX: CMZ.UN) closed the offering of Rights to its Unitholders raising gross proceeds of $53,292,483 (5,609,735 Units), being the maximum permitted under the offering. Each Unitholder was given one Right for each Unit held on March 19, 2010. One Right entitled the holder to purchase one COMPASS Unit at a price of $9.50 until 4:00 p.m. (Toronto time) on April 16, 2010. The directors and officers of the Manager exercised all their Rights to acquire Units under the Basic Subscription Privilege. The net proceeds of the Rights Offering will be invested by the Fund in accordance with its investment objectives. The Fund and its manager, Middlefield Limited, were represented by Fasken Martineau with a team that included Stephen Erlichman, John Sabetti, Daniel Fuke and Laura Fetter (securities).


    Receive email updates from our team