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MCAN Financial Group Announces Closing of Overnight Marketed Offering
MCAN Financial Group Announces Closing of Overnight Marketed Offering Canada NewsWire ...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN Financial Group Announces Closing of Overnight Marketed Offering\n \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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION OR DISSEMINATION INTO\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 28, 2024\n \n \n /CNW/ - MCAN Mortgage Corporation d/b/a MCAN Financial Group (\"\n \n MCAN\n \n \", the \"\n \n Company\n \n \" or \"\n \n we\n \n \") (TSX: MKP) today announced the closing of its previously announced overnight marketed offering (the \"\n \n Offering\n \n \") of common shares (the \"\n \n Common Shares\n \n \") of the Company. Pursuant to the Offering, the Company issued a total of 1,868,750 Common Shares at a price of\n \n $15.40\n \n per Common Share for aggregate gross proceeds of\n \n $28,778,750\n \n , which includes the gross proceeds from the full exercise of the over-allotment option granted to the Underwriters.\n \n \n The Offering was co-led by Canaccord Genuity Corp. and BMO Nesbitt Burns Inc., on behalf of a syndicate of underwriters including CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Raymond James Ltd., Desjardins Securities Inc. and iA Private Wealth Inc. (collectively, the \"\n \n Underwriters\n \n \"). Goodmans LLP acted as legal counsel to the Company and Blake, Cassels & Graydon LLP acted as legal counsel to the Underwriters.\n \n \n The Corporation expects to use the net proceeds from the Offering for its residential mortgage lending and residential construction lending business.\n \n \n \"We are very pleased with the success of this offering,\" said\n \n Don Coulter\n \n , President and Chief Executive Officer.  \"We were able to upsize the deal plus receive full exercise of the over-allotment option.  These proceeds will allow MCAN to continue growing its business as we have consistently done over many years.\"\n \n \n The Offering was made in each of the provinces and territories of\n \n Ca...