Firm Capital Mortgage Investment Corporation Closes $25,000,000 Bought Deal Financing

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[{"type":"text","content":"\n\n\n\nFirm Capital Mortgage Investment Corporation Closes $25,000,000 Bought Deal Financing\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 23, 2018\n\n\n\nTSX Symbol: FC\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n TORONTO, Nov. 23, 2018 /CNW/ - Firm Capital Mortgage Investment Corporation (the \"Corporation\") (TSX: FC) is pleased to announce that it has closed its previously announced bought deal offering (the \"Offering\") of $25,000,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures of the Corporation (the \"Debentures\") due January 31, 2026 at a price of $1,000 per Debenture. Each Debenture is convertible into common shares of the Corporation at the option of the holder at a conversion price of $14.60 per common share (or approximately 68.4932 common shares per $1,000 principal amount of Debentures). The Debentures are listed and posted for trading on the Toronto Stock Exchange under the symbol FC.DB.J.  \nThe Offering was underwritten by a syndicate of underwriters that was co-led by TD Securities Inc., CIBC Capital Markets and Scotiabank, and which included National Bank Financial Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc., Echelon Wealth Partners Inc. and GMP Securities L.P. (collectively, the \"Underwriters\"). The Corporation has also granted the Underwriters an over-allotment option, exercisable in whole or in part, at any time up to 30 days after the closing of the Offering to purchase up to an additional $3,750,000 aggregate principal amount of Debentures.\nThe net proceeds of the Offering will be used for debt repayment, new investments and for general corporate purposes.\nAbout the Corporation\nWhere Mortgage Deals Get Done®\nThe Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, inclu...

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