​US Buyback Leaders Fund closes its C$53 million initial public offering

Date closed: 3/25/2015

Value: C$53 million

On March 25, 2015, Harvest Portfolios Group Inc. (the Manager) announced that US Buyback Leaders Fund (the Fund) has completed today its initial public offering (the Offering) of Class A Units at a price of C$10.00 per Class A Unit and Class U Units at a price of US$10.00 per Class U Unit for aggregate gross proceeds of approximately C$53 million. The Fund issued an additional 153,882 Class A Units pursuant to the exercise of the over-allotment option by the syndicate of agents. Total gross proceeds raised by the Fund pursuant to its initial public offering, and including the over-allotment, were C$54,653,820.

The Fund's investment objectives are to provide Unitholders with (i) the opportunity for capital appreciation; and (ii) quarterly cash distributions.

Harvest Portfolios Group Inc., headquartered in Oakville, Ontario, is a Canadian investment management company.

BLG represented Harvest Portfolios Group Inc. and US Buyback Leaders Fund with a team led by Michael DeCosimo that included Colin Cameron-Vendrig (corporate and securities) and Craig Webster (tax).