Crius Energy Trust Closes Over-Allotment Option in Full

Crius Energy (TSX:KHWH) has announced it has closed in full the Over-Allotment Option granted to the underwriters resulting in 1.6 million additional subscription receipts of the trust at $9.80 per share for gross proceeds of $16.5 million.
As quoted in the press release:

Each Additional Subscription Receipt will entitle the holder thereof to receive, without payment of additional consideration or further action on the part of such holder, one unit of the Trust immediately prior to the closing of the acquisition by the Trust of U.S. Gas & Electric, Inc., provided that a termination event has not occurred.
On June 20, 2017, the Trust announced the closing of its previously announced “bought deal” public offering of 11,224,500 subscription receipts of the Trust (“Subscription Receipts“) at a price of C$9.80 per Subscription Receipt (the “Offering Price“) for aggregate gross proceeds of $110,000,100 (the “Offering“). In connection with the Offering, a syndicate of underwriters co-led by Desjardins Capital Markets, RBC Capital Markets and National Bank Financial Inc. (collectively, the “Co-Lead Underwriters“), and including Canaccord Genuity Corp., Scotia Capital Inc., CIBC World Markets Inc., Cormark Securities Inc. and Raymond James Ltd. (collectively, with the Co-Lead Underwriters, the “Underwriters“) were granted an option (the “Over-Allotment Option“) to purchase up to an additional 1,683,675 Subscription Receipts (the “Additional Subscription Receipts“) at the Offering Price, exercisable in whole or in part, for a period of 30 days commencing on June 20, 2017.
The gross proceeds from the Offering and the Over-Allotment Option, less an amount equal to (i) 50% of the commission of the Underwriters, and (ii) the costs and expenses of the Underwriters payable by the Trust (collectively, the “Escrowed Funds“) have been deposited with Computershare Trust Company of Canada, as escrow agent (the “Escrow Agent“) to be invested in one or more interest-bearing trust accounts maintained by the Escrow Agent pursuant to the terms of the subscription receipt agreement dated June 20, 2017 (the “Subscription Receipt Agreement“) among the Trust, the Escrow Agent and the Co-Lead Underwriters (on behalf of the Underwriters), until the earlier of (i) the satisfaction (or waiver) of the escrow release conditions, relating to the closing of the acquisition by the Trust of U.S. Gas & Electric, Inc., or (ii) the occurrence of a termination event, each as more particularly described in the Subscription Receipt Agreement.

Click here to read the full press release.