Firm Capital Mortgage Investment Corporation Completes $25 Million Bought Deal Financing

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[{"type":"text","content":"Firm Capital Mortgage Investment Corporation Completes $25 Million Bought Deal Financing\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n \n\n TORONTO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) is pleased to announce that it has closed its previously announced public offering of $25,000,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures due December 31, 2032 of the Corporation (the “Debentures”) with a syndicate of underwriters bookrun by CIBC Capital Markets and TD Securities Inc., and including Canaccord Genuity Corp., National Bank Financial Inc., RBC Capital Markets, Scotiabank, ATB Securities Inc., Desjardins Securities Inc., iA Private Wealth Inc., Raymond James Ltd. and Ventum Financial Corp. The Corporation granted the underwriters an over-allotment option to purchase up to $3,750,000 additional aggregate principal amount of Debentures, exercisable, in whole or in part, at any time until 30 days following today’s closing. If the over-allotment option is exercised in full, the gross proceeds of the offering will total $28,750,000.\n \n\n The Debentures will trade on the Toronto Stock Exchange under the symbol “FC.DB.M”.\n \n\n The net proceeds of the offering will be used by the Corporation to repay indebtedness.\n \n\n The Debentures bear interest at a rate of 5.50% per annum, payable semi-annually in arrears on the last day of June and December in each year, commencing on December 31, 2025, and mature on December 31, 2032 (the “Maturity Date”). The Debentures are convertible at the holder’s option into common shares of the Corporation (the “Shares”) at any time prior to the close of business on the earlier of the Maturity Date and the business day immediately preceding the date fixed for redemption at a conversion price of $14.06 per Share (the “Conversion Price”), subject to adjustment in certain circumstances.\n \n\n The Debentures are not be redeemable before December 31, 2028. On and after December 31, 2028 and prior to December 31, 2030, the Debentures are redeemable in whole or in part from time to time at the Corporation’s option at par plus accrued and unp...

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