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AIP Realty Trust A ( ($TSE:AIP.U) ) has issued an announcement.
AIP Realty Trust has successfully completed the first tranche of a non-brokered private placement, issuing 7,260,000 Series B Convertible Preferred Units at a price of US$0.50 each, raising US$3,630,000. The proceeds will fund the proposed business combination with AllTrades Industrial Properties, LLC, covering related costs such as audit and legal fees. The financing, which included participation from a major shareholder, is subject to TSX Venture Exchange approval for subsequent tranches and highlights AIP’s strategic efforts to strengthen its operations and market presence.
More about AIP Realty Trust A
AIP Realty Trust operates in the real estate industry, focusing on investment and management of real estate properties. The company is involved in various real estate transactions and aims to enhance its market position through strategic business combinations.
For detailed information about AIP.U stock, go to TipRanks’ Stock Analysis page.