Firm Capital MIC completes $23M bought deal financing

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By CPE News

Toronto (pcJ News Briefs) – Firm Capital Mortgage Investment Corporation (MIC) (TSX: FC) has completed previously announced bought deal offering of 1,633,000 common shares at $14.10 per share for gross proceeds of $23,025,300.

The offering was underwritten by a syndicate of underwriters led by TD Securities Inc. and CIBC Capital Markets, and which included Scotiabank, National Bank Financial Inc., RBC Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Desjardins Securities Inc., Echelon Wealth Partners Inc. and Industrial Alliance Securities Inc.

Net proceeds will be used to repay a portion of the company’s indebtedness.

Firm Capital Mortgage Investment 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, including construction, mezzanine and equity investments.

photo credit: Firm Capital