Firm Capital Mortgage Investment Corporation Closes $36,023,000 Bought Deal Financing

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[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION\n INTHE UNITED STATES/\n\n\nTORONTO, March 21, 2012 /CNW/ - Firm Capital Mortgage Investment\n Corporation (the \"Corporation\") (TSX: FC) today announced that it has closed its previously announced\n offering of 1,340,000 common shares (the \"Shares\") of the Corporation at a price of $13.45 per Share and $18,000,000\n aggregate principal amount of 5.25% convertible unsecured subordinated\n debentures (the \"Debentures\") due March 31, 2019 of the Corporation at a price of $1,000 per\n Debenture. Each Debenture is convertible into common shares at the\n option of the holder at a conversion price of $14.80 per share (or\n 67.5676 shares per $1,000 principal amount of Debentures). The\n Debentures are listed and posted for trading on the TSX under the\n symbol FR.DB.C. The offering was underwritten by a syndicate of underwriters led by TD\n Securities Inc. and including Dundee Securities Ltd., National Bank\n Financial Inc., Desjardins Securities Inc., and Macquarie Capital\n Markets Canada Ltd. The Corporation has also granted to the\n underwriters an over-allotment option, exercisable in whole or in part,\n at any time up to 30 days after the closing of the offering to purchase\n up to an additional 201,000 Shares and an additional $2,700,000\n principal amount of Debentures.\n\n\nThe net proceeds of the offering will be used to repay a portion of its\n indebtedness.\n\n\nThe securities being offered have not been and will not be registered\n under the United States Securities Act of 1933 and accordingly will not\n be offered, sold or delivered, directly or indirectly within the United\n States, its possessions and other areas subject to its jurisdiction or\n to, or for the account or for the benefit of a U.S. person, except in\n limited circumstances.\n\n\nAbout The Corporation\n\n\nThe Corporation, through its mortgage banker, Firm Capital Corporation,\n is a non-bank lender providing residential and commercial short-term\n bridge and conventional real estate financing, including construction,\n mezzanine and equity investments. The Corporation's investment\n objective is the preservation of Shareholders' equity, while providing\n Shareholders with a stable stream of monthly dividends from\n investments. The Corporation achieves its investment obj...

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