Firm Capital Mortgage Investment Corporation Announces Redemption of 5.75% Debentures Through the Issuance of Shares and Instructions on How to Elect to Receive Cash Instead of Shares

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\n\nFirm Capital Mortgage Investment Corporation Announces Redemption of 5.75% Debentures Through the Issuance of Shares and Instructions on How to Elect to Receive Cash Instead of Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 14, 2017\n\n\n\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\nTSX Symbol: FC\n\n\n\nTORONTO, Aug. 14, 2017 /CNW/ - Firm Capital Mortgage Investment Corporation (the \"Corporation\") (TSX: FC) is pleased to announce that it intends to redeem early its outstanding $31,443,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures of the Corporation (the \"Debentures\") due October 31, 2017, effective September 20, 2017 (the \"Redemption Date\"). The Debentures, which are listed and posted for trading on the Toronto Stock Exchange under the symbol FC.DB.A, will cease trading subsequent to the Redemption Date.  \n\nA redemption notice has been delivered to the Debenture trustee and provides for the redemption with freely tradeable common shares in the capital of the Corporation (the \"Shares\") of the aggregate principal amount of $31,443,000 and all accrued and unpaid interest to but excluding the Redemption Date.\n\nTHE CORPORATION HAS DETERMINED TO PERMIT HOLDERS OF DEBENTURES TO ELECT TO RECEIVE CASH IN LIEU OF SHARES IN CONNECTION WITH SUCH REDEMPTION, PROVIDED THAT HOLDERS MAKE SUCH ELECTION THROUGH THEIR RESPECTIVE BROKERS ON OR PRIOR TO 5:00 P.M. (EDT) ON AUGUST 30, 2017. If a holder of Debentures does not make such an election prior to the election deadline, the Corporation will, in accordance with the trust indenture governing the terms of the Debentures (the \"Indenture\"), satisfy the aggregate redemption price by issuing and delivering that number of freely tradeable Shares obtained by dividing the aggregate redemption price by 95% of the weighted average market price per Share for the preceding 20 trading days ending on the fifth trading day preceding ...

More updates from Firm Capital Mortgage Investment Corporation