Major Canadian MIC closes bought deal public offering

Major Canadian MIC closes bought deal public offering

Major Canadian MIC closes bought deal public offering

Firm Capital Mortgage Investment Corporation confirmed on November 30 the closing of its previously announced bought deal public offering.

The transaction, which involved 2,139,000 common shares at a price of $12.10 per common share, was completed with a syndicate of underwriters bookrun by TD Securities Inc., CIBC Capital Markets and National Bank Financial Inc.

This group also included Scotiabank, Canaccord Genuity Corp., Desjardins Securities Inc., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., Raymond James Ltd., and RBC Capital Markets.

“The underwriters have exercised, in full, the previously announced over-allotment option granted to them by the corporation,” Firm Capital said.

Gross proceeds from the transaction were at $25.881 million.

“The net proceeds of the offering will be used to repay indebtedness and for general corporate purposes,” Firm Capital added.