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Big Banc Split Corp. Establishes At-the-Market Equity Program
TORONTO, May 07, 2026 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is p...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"Big Banc Split Corp. Establishes At-the-Market Equity Program\nTORONTO, May 07, 2026 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce that Big Banc Split Corp. (the “Company”) (TSX: BNK, BNK.PR.A) has established an at-the-market equity program (“ATM Program”) that allows the Company to issue preferred shares (the “Preferred Shares”) and class A shares (the “Class A Shares” and together with the Preferred Shares, the “Shares”) of the Company having an aggregate market value of up to $25,000,000 and $25,000,000, respectively, to the public from time to time, at the Company’s discretion. Any Shares sold under the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale. The volume and timing of the distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The ATM Program will be effective until December 25, 2027, unless terminated prior to such date by the Company. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and strategies of the Company to invest in an equally weighted portfolio of the equity securities of the publicly traded Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank. . Sales of the Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated May 6, 2026 (the “Equity Distribution Agreement”) with National Bank Financial Inc. (the “Agent”). Sales of the Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Shares in Canada. Since the Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated May 6, 2026 to the Company’s short form b...