IA Clarington Aston Hill Tactical Yield Fund completes C$103 million initial public offering

Date Closed: 4/19/2010

Value: C$103 million

IA Clarington Aston Hill Tactical Yield Fund (the Fund) completed an initial public offering on April 19, 2010 of 10,000,000 Units at a price of $10.00 per Unit of the Fund for total gross proceeds of $100,000,000. The agents exercised their over-allotment option on April 30, 2010 to purchase an additional 300,000 Units. The exercise of the over-allotment option brought the total gross proceeds of the public offering to $103,000,000. Each Unit of the Fund consisted of one trust unit and one warrant. Each warrant entitles the holder to purchase an additional trust unit for an exercise price of $10.00.  Unexercised warrants expire on April 29, 2011.

The offering was made through a syndicate of agents led by CIBC World Markets Inc. and included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Financial Ltd., Desjardins Securities  Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Industrial Alliance Securities Inc. and Rothenberg Capital Management Inc.

The Fund was represented by BLG with a team that included Carol Derk, Dyana McLellan and Jessica Stern (corporate and securities), Craig Webster (tax) and Jon Dyck (banking).