Company sells 750,000 class B shares at 4.31% discount to market price
By Devika Patel
Knoxville, Tenn., Jan. 5 - Timbercreek Mortgage Investment Corp. said it completed a non-brokered private placement of stock. The deal raised C$7.5 million on Jan. 4.
The company sold 750,000 class B shares at C$10.00 apiece. The price per share is a 4.31% discount to the Dec. 31 closing share price of C$10.45.
Proceeds will be used to invest in mortgage loans and for general corporate purposes.
The investment fund is based in Toronto.
| Issuer: | Timbercreek Mortgage Investment Corp.
|
| Issue: | Class B shares
|
| Amount: | C$7.5 million
|
| Shares: | 750,000
|
| Price: | C$10.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Jan. 4
|
| Stock symbol: | Toronto: TMC
|
| Stock price: | C$10.45 at close Jan. 4
|
| Market capitalization: | C$141.2 million
|
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