Alaris Equity Partners Income Trust (TSX: AD.UN) completed on December 17, 2025, its public offering of $115 million aggregate principal amount of 6.25% convertible unsecured senior debentures due December 31, 2030, priced at $1,000 per debenture. The offering included full exercise of the $15 million over-allotment option.

The debentures bear interest at 6.25% per annum, payable semi-annually in arrears on June 30 and December 31 each year, commencing June 30, 2026. The first payment will include accrued interest from the closing date. Each debenture is convertible into Trust Units at a conversion price of $27.00 per Trust Unit, representing approximately 37.037 Trust Units per $1,000 principal amount.

The debentures are not redeemable prior to December 31, 2028, except following a change of control under certain conditions. They commenced trading on the Toronto Stock Exchange under symbol "AD.DB.C" on December 17, 2025.

National Bank Financial Inc. and CIBC World Markets Inc. led the underwriting syndicate, which included Desjardins Securities Inc., Acumen Capital Finance Partners Limited, Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., and Cormark Securities Inc. Underwriters received $40 per debenture.

Burnet, Duckworth & Palmer LLP represented Alaris; Torys LLP represented the underwriters. Net proceeds of approximately $95.6 million will partially repay outstanding senior credit facility indebtedness.