Arrow Capital Management Inc. (“Arrow”) is pleased to announce that East Coast Investment Grade Income Fund (the “Fund”) has completed its initial public offering of 11,250,000 units (the “Units”) at a price of $12.00 per Unit for gross proceeds of $135 million. The Units commenced trading on the Toronto Stock Exchange on May 18, 2012 under the symbol ECF.UN.
“We are extremely pleased with the positive response we have experienced with this closed end fund offering”, says Rob Parsons, Managing Director and COO of Arrow. Adding, “We continue to broaden our product line-up with unique and compelling alternative income and equity solutions that meet a wide variety of client needs.”
There is no regulatory minimum purchase amount requirement for investments in a Fund made by investors who qualify under the Accredited Investor
Exemption. However, the minimum initial purchase amount established by the Manager for "accredited investors" is $25,000 (or such lesser amount that
the Manager may accept from time to time).
The criteria for qualification as an "accredited investor" is defined in National Instrument 45-106 of the Canadian Securities Administrators and is
set out in the Subscription Instructions of the Investment Application.
(2) Minimum Amount Exemption (not available to individuals)
The minimum amount for an initial investment in a Fund made by an investor purchasing under the Minimum Amount Exemption is $150,000 in each
province and territory.
Disclaimer: Information about the Arrow Capital Management Funds is not to be construed as a public offering of securities in any jurisdiction of
Canada. The offering of units of the Arrow Capital Management Funds is made pursuant to their respective offering memorandum only to those investors
in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Arrow Capital Management
Funds, including a statement of each fund's fundamental investment objective, is contained in their respective offering memorandum, a copy of which
may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will