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Firm Capital Mortgage Investment Corp T.FC

Alternate Symbol(s):  FCMGF | T.FC.DB.I | T.FC.DB.K | T.FC.DB.L | T.FC.DB.J

Firm Capital Mortgage Investment Corporation is a Canadian mortgage investment company. The Company, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine, and equity investments. Its investment objective is the preservation of shareholders' equity, while providing shareholders with a stable stream of monthly dividends from investments. The Company achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. Its lending activities are focused on developing a diversified mortgage portfolio. Its mortgage banker acts as the Company's loan originator, underwriter, servicer and syndicator. Its mortgage portfolio includes conventional first mortgages, conventional non-first mortgages, related debt investments, debtor in possession loan and non-conventional mortgages.


TSX:FC - Post by User

Comment by ArbProfiton Aug 31, 2017 4:31pm
106 Views
Post# 26644281

RE:RE:RE:New shares

RE:RE:RE:New sharesI own some shares, but am happy to see if fall to a screaming buy point, knowing it's because of the upto 2.4M shares that will hit the market after September 20th.  

We are currently in the 20-day period where the price for those shares will be calculated based on the average.  This means that the lower it trades, the lower the price of the shares issued to the debenture holders (FC.DB.A)....and the lower they can then sell them at a profit.

I'll be buying heavily if there's a nice drop after Sep.20th.  The debenture holders will be issued shares at approx 5% discount to the 20-day average. With AI, MKP, TF etc all trading near 52 week highs, FC should make up a lot of ground once those new shares finally get liquidated by the current debenture holders.  

It's an interesting situation, but if you're willing to hold the shares for a while, it should be a good buying opportunity.  

Some debenture holders may not even realize they're getting FC shares, since getting shares is the default and you have to call your broker to get cash instead.  


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