FOCUS INDUSTRIAL UK CORP. I COMPLETES INITIAL PUBLIC OFFERING AND RAISES APPROXIMATELY C$42.1 MILLION

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TORONTO, May 11, 2026 /CNW/ - Focus Industrial UK Corp. I (the "Fund") announced today that it has completed its initial public offering of shares (the "Offering"). Pursuant to the Offering and a concurrent private placement, the Fund issued an aggregate of approximately C$39.6 million of shares, comprised of 1,504,300 Class A Shares, 1,321,653 Class F Shares, 700,000 Class I Shares and 231,000 Class U Shares of the Fund at a price of C$10.00 per Class A Share, Class F Share and Class I Share and £10.00 per Class U Share.

In connection with the Offering, the Manager (as defined below) purchased through Focus Industrial Promote LLP (the "Carried Interest Holder") approximately £238,092 of class B limited partnership units (the "UK LP Class B Units") of Focus Industrial TopCo LP, a subsidiary of the Fund. In addition, the Carried Interest Holder subscribed for an additional approximately £1,131,619 UK LP Class B Units, representing 5% of the aggregate gross proceeds raised pursuant to the Offering and the concurrent private placement and the gross proceeds raised pursuant to the sale of UK LP Class B Units to the Carried Interest Holder.

The syndicate of agents for the Offering was led by CIBC World Markets Inc. and included Canaccord Genuity Corp., iA Private Wealth Inc., Richardson Wealth Limited and Wellington-Altus Private Wealth Inc.  

The Fund is a corporation established for the primary purpose of investing in a portfolio of income-producing multi-let industrial ("MLI") real estate properties in the United Kingdom ("UK"). Following completion of the Offering, the Fund intends to use the net proceeds from the Offering to indirectly acquire a portfolio of 11 MLI properties ("Properties") located in the UK (the "Initial Portfolio") and to satisfy payment of other acquisition-related costs and capital expenditures. The Manager (as defined below) is targeting deployment of the unallocated portion of the net proceeds of the Offering, if any, to fund future acquisitions of one or more additional Properties and for working capital purposes, including towards distributions, if necessary. It is expected that closing of the acquisition of the Initial Portfolio will occur on or about May 13, 2026.

Clear Sky Capital Inc. (the "Canadian Manager"), an affiliate of Clear Sky Capital, Inc. (the "UK Manager", and together with the Canadian Manager, the "Manager"), is the manager and promoter of the Fund. Since its inception in 2009 and through 2025, the UK Manager and its affiliates have acquired or developed approximately US$1.73 billion of real estate and operating asset investments in the United States and the United Kingdom. Investments have been executed through multiple investment vehicles and funded primarily by U.S. and Canadian retail and institutional investors. Over this period, the platform has invested approximately US$644 million towards 134 real estate transactions diversified across its core sectors.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

Gross proceeds noted in this press release have been calculated based on a rate of exchange of £1.00 to C$1.8604.

Forward-looking Statements

This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the Fund and the Manager regarding future events, including statements concerning the use of proceeds of the Offering and the timing of closing of the acquisition of the Initial Portfolio. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Material factors and assumptions used by management of the Fund to develop the forward-looking information include, but are not limited to, the Fund's current expectations about: vacancy and rental growth rates in the UK MLI market; demographic trends in the UK; the realization of property value appreciation and timing thereof; the inventory of MLI properties; the availability of MLI properties for acquisition (other than the Properties comprising the Initial Portfolio) and the price at which such properties may be acquired; the price at which Properties may be disposed and the timing thereof; closing and other transaction costs in connection with the acquisition and disposition of Properties; the availability of mortgage financing and current interest rates; the capital structure of the Fund; the extent of competition for MLI properties; assumptions about the markets in which the Fund intends to operate; expenditures and fees in connection with the maintenance, operation and administration of the Properties; the ability of the Manager to manage and operate the Properties; the global and UK economic environment, including changes in interest rates and the rate of inflation; the impact of negative geopolitical events; foreign currency exchange rates; and governmental regulations or tax laws. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Although the Manager believes that the expectations reflected in such forward-looking statements are reasonable and represent the Fund's internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Fund's control, may affect the operations, performance and results of the Fund, and could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the final prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the Fund undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SOURCE Focus Industrial UK Corp. I

For further information, please contact: Iyngaran Muniandy, Chief Executive Officer, Focus Industrial UK Corp. I, [email protected]; Matthew Collins, Chief Financial Officer, Focus Industrial UK Corp. I, [email protected]