MOT Announces Institutional Placement and Unit Purchase Plan

August 26, 2021

On 26 August 2021, Metrics Income Opportunities Trust (ASX: MOT) announced they are seeking to raise $52.86m through the issue 26.04m new fully paid ordinary MOT units at a price of $2.03 per unit to wholesale investors. In addition to this, the Trust has announced a Unit Purchase Plan (UPP) to existing eligible unitholders to acquire up to $30,000 worth of new units at a price of $2.03. The Trust is seeking to raise $100m through the UPP. Applications in excess of this amount may be scaled back on a pro rata basis. The UPP is scheduled to open on 6 September 2021 and close on 30 September 2021.

The offer price of $2.03 in in line with the NAV at the time of the announcement with the UPP providing unitholders the ability to acquire units at a discount of 1.9% to the unit price at the close on the trading day prior to the announcement (25 August 2021).

The funds raised through the institutional placement and the UPP will be invested in accordance with the investment mandate and target return of MOT.

MOT seeks to provide a monthly income stream for investors, preserve capital and managed investment risk while seeking to provide upside gains through investment in private credit credit and other assets such as warrants, options, preference shares and equity. MOT will predominantly provide exposure to loans, notes and bonds, however may also provide potential for upside gains through exposure to private equity and equity-like investments. At the date of the offer, MOT had a distribution yield of 6.4%.