- Firm Capital Mortgage Investment Corp. (FC) announces it has increased the size of its previous bought deal offering from $22,007,700 to $25,007,400
- Capital Mortgage, Eli Dadouch, Jonathan Mair and Michael Warner have entered into an agreement to sell 1,684,000 common shares to a syndicate of underwriters
- Under the agreement 1,214,000 shares will be issued from the treasury by Capital Mortgage for gross proceeds of approximately $18 million
- The net proceeds will be used to pay indebtedness and for general corporate purposes
- Firm Capital Mortgage Investment Corp. (FC) is down 3.58 per cent and is trading at $14.81 per share at 2:50 p.m. ET
Firm Capital Mortgage Investment Corp. (FC) announces it has increased the size of its previous bought deal offering from $22,007,700 to $25,007,400.
Capital Mortgage, Eli Dadouch, Jonathan Mair and Michael Warner have entered into an agreement to sell 1,684,000 common shares to a syndicate of underwriters led by TD Securities Inc., National Bank Financial Inc. and CIBC Capital markets.
A total of 470,000 shares will be sold for aggregate gross proceeds of approximately $7 million.
Capital Mortgage also granted the underwriters an over-allotment option to purchase up to 252,000 common shares at the same price at any time for 30 days after the closing of the offer.
Under the agreement, 1,214,000 shares will be issued from the treasury by Capital Mortgage for gross proceeds of approximately $18 million.
The net proceeds will be used to repay indebtedness and for general corporate purposes.
The offering is expected to close by November 1 and is subject to conditions including, but not limited to, the receipt of all regulatory approvals.
The securities will not be offered, sold, or delivered in the United States.
Firm Capital Mortgage Investment Corp. (FC) is down 3.58 per cent and is trading at $14.81 per share at 2:50 p.m. ET.