Global Innovation Dividend Fund files initial public offering
19 Jan, 2018, 20:10 ET
CALGARY, Jan. 19, 2018 /CNW/ - Middlefield Group, on behalf of Global Innovation Dividend Fund (the "Fund"), is pleased to announce that it has filed a preliminary prospectus in relation to an initial public offering of units at a price of $10.00 per unit.
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 (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.
Prospective purchasers investing in Global Innovation Dividend Fund have the option of paying for units in cash or by exchanging securities of issuers listed in the preliminary prospectus. Prospective purchasers under the exchange option are required to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on February 22, 2018, in the manner described in the preliminary prospectus.
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.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the agents named above using the contact information for such agent. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
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
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