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Atrium Mortgage Investment Corporation Completes $17.3 Million Public Offering and $10 Million Non-brokered Private Placement of Common Shares
Toronto, Ontario--(Newsfile Corp. - October 18, 2019) - Atrium Mortgage Investment Corporation...
About this update from Atrium Mortgage Investment Corp.
[{"type":"text","content":"Atrium Mortgage Investment Corporation Completes $17.3 Million Public Offering and $10 Million Non-brokered Private Placement of Common SharesToronto, Ontario--(Newsfile Corp. - October 18, 2019) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB) (TSX: AI.DB.B) (TSX: AI.DB.C) (TSX: AI.DB.D) (TSX: AI.DB.E) is pleased to report that it has closed its previously announced public offering and non-brokered private placement offering of 1,288,000 common shares and 746,300 common shares, respectively, at a price of $13.40 per common share for gross proceeds of $17,259,200 and $10,000,420, respectively, representing total gross proceeds of $27,259,620. The public offering was completed with a syndicate of underwriters bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC Capital Markets, and including National Bank Financial Inc., BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., Industrial Alliance Securities Inc., Raymond James Ltd. and Echelon Wealth Partners Inc. The underwriters of the public offering have exercised, in full, the previously announced over-allotment option granted to them by Atrium. Under non-brokered private placement offering, the common shares were acquired by an entity jointly controlled by two existing shareholders of Atrium.Atrium will use the net proceeds of the offerings 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.No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Atrium in any jurisdiction.About Atrium Canada's Premier Non-Bank Lender™Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives ar...