Maximum $250 Million – Closing March 23, 2018
CALGARY, Feb. 22, 2018 /CNW/ - Middlefield Group, on behalf of Global Innovation Dividend Fund (the "Fund"), is pleased to announce that it has filed a final prospectus in relation to an initial public offering of units at a price of $10.00 per unit. The maximum amount of the offering is $250 million.
The Fund's investment objectives are to provide holders of units with:
(i) stable monthly cash distributions, and
(ii) enhanced long-term total return through capital appreciation of the Fund's investment portfolio
through a diversified, actively managed portfolio comprised primarily of dividend-paying securities of global issuers focused on, involved in, or that derive a significant portion of their revenue from, the development or commercialization of products or services related to major technological innovations including the use of blockchain technology, genomics, artificial intelligence, big data, e-commerce, cybersecurity, the internet of things and autonomous vehicles (collectively, "Global Innovators").
The initial target distribution yield for the Fund is 4% per annum based on the original subscription price (or $0.033 per unit per month or $0.40 per unit per annum).
Middlefield Capital Corporation, the advisor, will provide investment management advice to the Fund. SSR LLC, an investment research firm based in Stamford, Connecticut, will act as an industry advisor to Middlefield and in such capacity will provide ongoing analysis regarding Global Innovators.
The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., National Bank Financial Inc., Raymond James Ltd., Manulife Securities Incorporated, Industrial Alliance Securities, Middlefield Capital Corporation, Desjardins Securities Inc. and Mackie Research Capital Corporation.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE Global Innovation Dividend Fund
For further information: please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.