Core Viewpoint - Alaris Equity Partners Income Trust has successfully completed an offering of convertible unsecured senior debentures totaling $115 million, which will be used to repay existing debt and fund future investments [1][3]. Group 1: Offering Details - The offering consisted of $115 million in aggregate principal amount of debentures priced at $1,000 each, including a $15 million over-allotment option [1]. - The debentures will bear an interest rate of 6.25% per annum, with interest payments made semi-annually starting June 30, 2026 [2]. - The maturity date for the debentures is set for December 31, 2030, and they will begin trading on the Toronto Stock Exchange under the symbol "AD.DB.C" [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to partially repay outstanding indebtedness under Alaris' subsidiary's senior credit facility, which may be redrawn for future investments or general trust purposes [3]. Group 3: Company Overview - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable and predictable returns to unitholders through cash distributions and capital appreciation [4].

Core Points - Alaris Equity Partners Income Trust has filed a final short form prospectus for a bought deal offering of $100 million principal amount of 6.25% convertible unsecured senior debentures [1] - The offering is led by a syndicate of underwriters, including National Bank Financial Inc. and CIBC Capital Markets, with an option for underwriters to purchase an additional $15 million [1] - The closing of the offering is expected to occur on December 17, 2025, subject to customary closing conditions [3] Company Overview - Alaris Equity Partners Income Trust invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable and predictable returns to unitholders through cash distributions and capital appreciation [4]

Core Viewpoint - Alaris Equity Partners Income Trust will release its financial results for the three and nine months ended September 30, 2025, on November 5, 2025, and will host a conference call to discuss these results on November 6, 2025 [1]. Group 1 - Alaris is a Trust that invests in a diversified group of private businesses primarily through structured equity [3]. - The primary goal of Alaris's structured equity investments is to deliver stable and predictable returns to unitholders through cash distributions and capital appreciation [3]. - Alaris enhances its investment strategy by holding common equity positions, aligning returns with the founders of its Private Company Partners [3]. Group 2 - Participants interested in the conference call must register in advance to receive dial-in numbers and a unique PIN [2]. - A replay of the conference call will be available two hours after the event and archived for six months [2]. - Additional information regarding the event can be found on Alaris's website under the "Investors" section [2].

Core Points - Alaris Equity Partners Income Trust has declared a trust distribution of $0.34 per trust unit for Q3 2025, which annualizes to $1.36 per unit [1] - The distribution is scheduled to be paid on October 15, 2025, to unitholders of record as of September 30, 2025 [1] Company Overview - Alaris Equity Partners Income Trust invests in a diversified group of private businesses primarily through structured equity [2] - The main objective of these structured equity investments is to provide stable and predictable returns to unitholders through cash distributions and capital appreciation [2] - The strategy is further enhanced by common equity positions, aligning returns with the founders of the Private Company Partners [2]

Core Insights - Alaris Equity Partners Income Trust reported strong revenue growth despite facing foreign exchange challenges, with total revenue and operating income increasing by 20.9% year-over-year for Q2 2025 [5][8]. - The Trust's net distributable cash flow decreased by 31.8% in Q2 2025 compared to the previous year, primarily due to higher cash taxes and transaction costs [11][26]. - The Trust's net book value per unit decreased to $23.57, reflecting a $0.77 decline from the previous quarter, largely due to unrealized foreign exchange losses [6][7]. Financial Performance - Total revenue and operating income for Q2 2025 reached $34.5 million, up from $28.5 million in Q2 2024, marking a 20.9% increase [5][8]. - Year-to-date revenue for the Trust was $70.8 million, a 20.5% increase from $58.8 million in the same period last year [5][8]. - The Trust's net distributable cash flow for Q2 2025 was $17.9 million, down from $26.3 million in Q2 2024, indicating a 31.8% decline [11][26]. Investment Activities - Alaris invested approximately $154 million into new and existing partners during the first half of 2025, including a follow-on investment of US$21.5 million in The Shipyard, LLC [6][13]. - The Trust's run rate revenue at the end of Q2 2025 was approximately $183 million, reflecting a 12.5% increase from $162.6 million in Q2 2024 [6][14]. Partner Performance - The Trust earned $42.5 million in revenue from partners in Q2 2025, which included $41.8 million from partner distributions and $0.7 million from third-party fees, consistent with $42.3 million earned in Q2 2024 [12][8]. - The weighted average earnings coverage ratio for Alaris' partners was approximately 1.5x, with 13 out of 20 partners exceeding this ratio [6][9]. Outlook - Alaris anticipates total revenue from its partners in Q3 2025 to be approximately $56.9 million, an increase from Q2 2025 due to expected incremental distributions [12][19]. - The Trust's run rate payout ratio is projected to be between 60% and 65%, indicating a stable distribution strategy moving forward [16][32].

Core Viewpoint - Alaris Equity Partners Income Trust will release its financial results for the second quarter and first half of 2025 on August 7, 2025, with a conference call scheduled for August 8, 2025 to discuss the results and outlook [1]. Group 1 - Alaris Equity Partners Income Trust is focused on investing in a diversified group of private businesses primarily through structured equity [3]. - The primary goal of Alaris's structured equity investments is to deliver stable and predictable returns to unitholders through cash distributions and capital appreciation [3]. - The investment strategy is enhanced by common equity positions, aligning returns with the founders of Private Company Partners [3]. Group 2 - Participants interested in the conference call must register in advance to receive dial-in numbers and a unique PIN [2]. - A replay of the conference call will be available two hours after the event and archived for six months [2]. - Additional information can be found on Alaris's website under the "Investors" section [2].

Group 1 - Alaris Equity Partners Income Trust has declared a trust distribution of $0.34 per trust unit for Q2 2025, which annualizes to $1.36 per unit [1] - The distribution is scheduled to be paid on July 15, 2025, to unitholders of record on June 30, 2025 [1] Group 2 - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable and predictable returns to unitholders [2] - The strategy includes common equity positions to align returns with the founders of Private Company Partners [2]

Core Viewpoint - Alaris Equity Partners Income Trust has successfully completed an offering of convertible unsecured senior debentures totaling $92 million, including an over-allotment option exercised by underwriters [1][3]. Group 1: Offering Details - The total offering amount of the debentures is $92 million, which includes an additional $12 million from the over-allotment option [1]. - The debentures carry an interest rate of 6.50% per annum, with interest payments scheduled semi-annually starting December 31, 2025, and maturing on June 30, 2030 [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to partially repay outstanding indebtedness under Alaris' subsidiary's senior debt facility, which may be redrawn for future investments or general trust purposes [3]. Group 3: Company Overview - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable and predictable returns to unitholders through cash distributions and capital appreciation [4].

Core Viewpoint - Alaris Equity Partners Income Trust has increased the size of its bought deal financing due to excess demand, now issuing 80,000 convertible unsecured senior debentures for total gross proceeds of $80 million [1]. Group 1: Financing Details - The offering consists of 80,000 convertible unsecured senior debentures priced at $1,000 each, totaling $80 million in gross proceeds [1]. - An additional option for underwriters to purchase up to $12 million in debentures is available, exercisable within 30 days post-closing [1]. - The offering is expected to close around June 2, 2025, pending necessary corporate and regulatory approvals [2]. Group 2: Company Overview - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable returns to unitholders via cash distributions and capital appreciation [4].

Group 1 - Alaris Equity Partners Income Trust has entered into an agreement with underwriters to purchase $75.0 million of convertible unsecured senior debentures due June 30, 2030, with an additional option for $11.25 million [1][2] - The net proceeds from the offering will be used to partially repay outstanding indebtedness and fund future investments [2] - The debentures will bear an interest rate of 6.50% per annum, payable semi-annually, with the first payment scheduled for December 31, 2025 [3] Group 2 - The debentures will be direct senior unsecured obligations of the Trust, ranking subordinate to all existing and future senior secured indebtedness [4] - The debentures are convertible into units of the Trust at a conversion price of $24.85 per unit, with specific conditions for redemption starting June 30, 2028 [5] - A preliminary short form prospectus will be filed with securities regulatory authorities in Canada, excluding Québec, and the offering is subject to regulatory approvals [6] Group 3 - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable returns to unitholders [9]