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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 wolverine99on Feb 14, 2019 1:50pm
125 Views
Post# 29365286

RE:$20 Million Bought Deal Financing

RE:$20 Million Bought Deal Financing
jjeerryy wrote:

TORONTO, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX:FC) is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, to a syndicate of underwriters bookrun by CIBC Capital Markets, National Bank Financial Inc. and Scotiabank, 1,520,000 common shares (the “Common Shares”) at a price of $13.20 per Common Share for gross proceeds of $20,064,000. The Corporation has granted the underwriters an over-allotment option to purchase up to an additional 228,000 Common Shares exercisable, in whole or in part, at any time until 30 days following the closing of the offering. If the over-allotment option is exercised in full, the gross proceeds of the offering will be $23,073,600.

The Common Shares will be issued pursuant to a prospectus supplement that will be filed with the securities regulatory authorities in all provinces of Canada under the Corporation’s base shelf prospectus dated July 17, 2017 and may also be offered by way of private placement into the United States pursuant to Rule 144A. The net proceeds of the offering will be used to repay indebtedness and for general corporate purposes. The offering is scheduled to close on or about March 1, 2019, and is subject to regulatory approval. 

The securities being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except in limited circumstances.

 


Read more at https://stockhouse.com/news/press-releases/2019/02/13/firm-capital-mortgage-investment-corporationannounces-20-million-bought-deal#mLtPDeSZotsUKUgK.99


I know they do this from time to time, but this one was fairly large swipe on the YTD Capatal Appreciation. Nice steady Divvy's though!

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