Killam Properties, Inc. (TSX:KMP) of Halifax, Nova Scotia, Canada announces it has closed its public share offering of 2,500,000 common shares at a price of $12. per share to achieve its goal of $30 million. According to 4-traders, the eleven underwriters were lead by RBC Capital Markets, and have an option for 30 days after the closing of the offering to purchase up to 375,000 additional shares, which if exercised would increase total proceeds to $34.5 million. Killam intends to use the monies to retire debt, fund future acquisitions and developments, and for general corporate expenses. The shares will not be offered under the United States Securities Act of 1933, and as such will not be offered in the U.S. On Nov. 30, 2011, as we reported here, Killam closed its offering of 3,256,000 shares at $10.75 per share, resulting in gross proceeds of $35 million. As MHProNews knows, Killam is one of the largest MHC owners in Canada.
