Allied Announces Pricing and Upsizing of Previously Announced Marketed Public Offering of Units and Concurrent Private Placement

Core Viewpoint - Allied Properties Real Estate Investment Trust has announced an upsized public offering and concurrent private placement, raising a total of approximately $560 million to repay existing debt obligations [1][7]. Group 1: Offering Details - The public offering now consists of 40,000,000 units priced at $10.00 each, resulting in gross proceeds of $400 million, an increase from the initial offering size of approximately $350 million [1]. - Allied has entered into a subscription agreement with the Alberta Investment Management Corporation for 16,000,000 units at the offering price as part of the private placement [1]. - The offering is being managed by a syndicate of underwriters led by Scotiabank, CIBC Capital Markets, and RBC Dominion Securities, with a 30-day option for underwriters to purchase an additional 15% of the units offered [2]. Group 2: Closing Conditions - The offering and private placement are expected to close concurrently on or about February 18, 2026, subject to customary closing conditions and approvals from the Toronto Stock Exchange [3]. Group 3: Use of Proceeds - The net proceeds from the offering and private placement will be used to repay amounts outstanding under the operating line of credit, specifically to address the $600 million principal amount of 1.726% series H senior unsecured debentures due February 12, 2026 [7]. Group 4: Company Overview - Allied is a leading owner-operator of distinctive urban workspace in major Canadian cities, focusing on providing sustainable workspaces that promote wellness, creativity, and connectivity [11].