A major non-bank provider of residential and commercial mortgages has announced the successful closure of its public offering of common shares.
In a February 10 release, Atrium Mortgage Investment Corporation (TSX:AI) stated that the public offering has accumulated gross proceeds of $30,039,750.
The public offering was conducted with “a syndicate of underwriters bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC Capital Markets, and including Scotiabank, BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Industrial Alliance Securities Inc. and Raymond James Ltd.”
“Atrium will use the net proceeds of the offering to repay existing indebtedness under its revolving operating credit facility, which will then be available to be drawn, as required, for general corporate purposes, particularly funding future mortgage loan opportunities,” the release added.
The company lends to major urban markets nationwide, aiming to address the needs of clients in areas with high levels real estate stability and liquidity.