AIP Realty Trust A (TSE:AIP.U) has released an update.
AIP Realty Trust has agreed to convert US$750,000 of debt into equity by issuing 1.5 million Class A Trust Units to AllTrades Industrial Development LLC, aiming to preserve cash for operations and subject to TSX Venture Exchange approval. This debt settlement could result in AllTrades Industrial Development owning approximately 30.46% of AIP’s outstanding Units. AIP is a real estate investment trust focusing on industrial business suites in the U.S., appealing to small businesses and service sectors.
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