/Not for distribution to United States newswire services or for
dissemination in the United
States./
TORONTO, May 17, 2024
/CNW/ - Next Edge Capital Corp. ("Next Edge" or the "Manager")
announces that 2028 Investment Grade Bond Trust (TSX: IGBT.UN) (the
"Fund") is launching an at-the-market equity program (the "ATM
Program"). The ATM Program allows the Fund to issue Class F units
of the Fund ("Units") having an aggregate market price of up to
$75,000,000, to the public from time
to time, at the discretion of the Manager. Any Units issued under
the ATM Program will be sold at the prevailing market price at the
time of sale through the Toronto Stock Exchange ("TSX") or any
other marketplace in Canada on
which the Units are listed, quoted or otherwise traded.
The volume and timing of distributions under the ATM Program, if
any, will be determined at the Manager's sole discretion. The ATM
Program will be effective until June 7,
2026, unless terminated prior to such date by the Fund. The
Fund intends to use the proceeds from the ATM Program in accordance
with the Fund's investment objectives, investment strategies and
investment restrictions.
Sales of the Units through the ATM Program will be made pursuant
to the terms of an equity distribution agreement entered into by
the Fund, the Manager and Ridgewood Capital Asset Management Inc.,
as adviser of the Fund (the "Equity Distribution Agreement"), dated
May 17, 2024 with National Bank
Financial Inc. (the "Agent").
Sales of the Units will be made by way of "at-the-market
distributions" as defined in National Instrument 44-102 Shelf
Distributions on the TSX or on any marketplace for the Units in
Canada. Since the Units will be
distributed at prevailing market prices at the time of the sale,
prices may vary among purchasers during the period of distribution.
The ATM Program is being offered pursuant to a prospectus
supplement dated May 17, 2024 to the
Fund's short form base shelf prospectus dated May 6, 2024. Copies of the Fund's prospectus
supplement and short form base shelf prospectus and the applicable
Equity Distribution Agreement may be obtained from your registered
financial advisor using the contact information for such advisor,
or from representatives of the Agent, and are available on SEDAR+
at www.sedarplus.ca.
About Next Edge Capital Corp.
Next Edge is an investment fund manager and a leader in the
structuring and distribution of alternative, private credit and
value-added fund products in Canada. The firm is led by an experienced
management team that has launched numerous investment solutions in
a variety of product structures and has been responsible for
raising over $3 billion of
alternative assets since 2000.1 Next Edge specializes
and focuses on providing unique, non-correlated pooled investment
vehicles to the Canadian marketplace.
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1
Please note that over CAD $2 billion of the CAD $3 billion of
alternative assets raised relates to assets that were raised at a
previous firm(s).
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Forward-Looking Statements
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect", "intend", "will" and
similar expressions to the extent they relate to the Fund. The
forward-looking statements are not historical facts but reflect the
Fund's and/or the Manager's current expectations regarding future
results or events. These forward-looking statements are subject to
a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations,
including, but not limited to, market factors. Although the Fund
and/or the Manager believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The Fund
and/or the Manager undertakes no obligation to update publicly or
otherwise revise any forward-looking statement or information
whether as a result of new information, future events or other
factors which affect this information, except as required by
law.
The short form base shelf prospectus and the prospectus
supplement containing important detailed information about the
securities being offered have been filed with securities
commissions or similar authorities in each of the provinces and
territories of Canada. Copies of
the Equity Distribution Agreement, the short form base shelf
prospectus and the prospectus supplement may be obtained from the
Agent. Investors should read the short form base shelf prospectus
and the prospectus supplement before making an investment
decision.
This communication is intended for informational purposes
only. You will usually pay brokerage fees to your dealer if you
purchase or sell Units of the Fund on the TSX. If the Units are
purchased or sold on the TSX, investors may pay more than the
current net asset value when buying Units of the Fund and may
receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning Units of
the Fund. An investment fund must prepare disclosure documents that
contain key information about the fund. You can find more detailed
information about the Fund in these documents. Investment funds are
not guaranteed, their values change frequently and past performance
may not be repeated.
SOURCE Next Edge Capital Corp.
