The underwriters purchased 2,997,000 units of the Fund from Food Services at a purchase price of $23.35 per unit for gross proceeds of $69,979,950. The Fund did not receive any proceeds of the offering. Food Services paid the expenses of the offering.
Prior to the closing, Food Services owned securities indirectly exchangeable for 4,247,358 units, representing approximately a 34-per-cent indirect interest in the Fund. Food Services only exchanged the number of Exchangeable Securities needed for the number of units to be sold pursuant to the offering. Following the closing of the offering, Food Services now owns Exchangeable Securities indirectly exchangeable for 1,250,358 units, or approximately a 10-per-cent indirect interest in the Fund.
Food Services has declared a dividend in the aggregate amount of $62,730,000 to its shareholder of record on March 9.
For more information, click here.
