Canada's Daylight Resources Trust (DAY_u.TO) said it plans to raise C$125 million ($102.8 million) by selling 17.8 million trust units to a syndicate of underwriters co-led by GMP Securities and CIBC World Markets Inc.
The company will sell its units at C$7 per unit, a discount of nearly 9 percent to its Tuesday closing of C$7.67 on the Toronto Stock Exchange.
Daylight will used part of the proceeds from the offering to repay debt, the company said in a statement.
The underwriters have an overallotment option to purchase up to an additional 2.6 million trust units at the same offering price, it said.
The offering is expected to close on or about May 7.
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