Maximum $300 million – Closing October 20, 2016
CALGARY, Sept. 21, 2016 /CNW/ - Middlefield Group, on behalf of Middlefield Healthcare & Wellness 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 $300 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.
The Fund's investment strategy will focus on investing in securities of issuers operating in or that derive a significant portion of their earnings or revenue from products or services related to the healthcare, wellness and related industries.
The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167 per unit per month or $0.50 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 the global healthcare sector.
Middlefield Limited, the manager, intends that on or about April 15, 2019, the Fund will, subject to applicable law, merge on a tax-deferred basis into an open-end mutual fund managed by the manager or an affiliate which the manager determines has substantially similar investment objectives.
Prospective purchasers investing in Middlefield Healthcare & Wellness Dividend Fund have the option of paying for units in cash or by exchanging securities of issuers listed in the final prospectus. Prospective purchasers under the exchange option are required to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on September 22, 2016 in the manner described in the preliminary prospectus.
The syndicate of agents is being co-led by CIBC and RBC Capital Markets, and includes Scotiabank, BMO Capital Markets, TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated and Middlefield 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 Middlefield Healthcare & Wellness 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.