News and Announcements
USR – Renounceable Rights Issue
- Published December 09, 2016 11:56AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
9th December 2016 – ASX Announcement
US Residential Fund (ASX: USR) (“USR”, “the Fund”) is pleased to advise that it is close to finalising a partially underwritten, renounceable rights issue to raise up to $8 million before costs and fees.
The rights issue will comprise one (1) new fully paid USR stapled security for every one (1) fully paid USR stapled security at a price of $0.45 per stapled security.
Funds from the Rights Issue will be used to fund USR’s investment in the Patriot’s Pointe multifamily apartment complex in North Carolina or investment in other multifamily assets in the US should the Patriot’s Pointe transaction not be finalised.
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