Parties
Company
JFT Strategies Fund
Bank
National Bank Financial Inc.
On April 2, 2025, JFT Strategies Fund initiated an at-the-market (ATM) equity offering of Class A Units, with an aggregate market value of up to $100 million. The Fund, a non-redeemable investment trust managed by CI Global Asset Management and advised by Timelo Investment Management Inc., will issue and sell the Units through National Bank Financial Inc., acting as the sole agent. The offering was qualified under a short form base shelf prospectus dated March 31, 2025, and is structured under National Instrument 44-102.
The Units are to be distributed at prevailing market prices on the Toronto Stock Exchange (TSX), where they are listed under the symbol "JFS.UN." As of April 1, 2025, the Units closed at $24.25 with a net asset value of $24.44 per Unit. There is no minimum amount required to close the offering. Proceeds will be used in accordance with the Fund’s investment strategy focused on an actively managed portfolio of long and short positions in equities, debt, and other securities aimed at maximizing returns while mitigating market risk.
National Bank Financial Inc. will receive up to 2.5% commission per Unit sold. Legal counsel for the Fund was Blake, Cassels & Graydon LLP, while Osler, Hoskin & Harcourt LLP acted for the Agent. Total expenses of the offering, excluding commissions, were estimated at $180,000.
Deal Type
Public/Private OfferingIndustry
Banking/FinanceTransaction
$ 100,000,000Deal Status
ActiveClosing Date