Investment fund sells shares at C$10 each to fund mortgage loans
By Toni Weeks
San Diego, June 1 - Timbercreek Senior Mortgage Investment Corp. settled a C$4.78 million non-brokered private placement of class J shares on June 1, according to a press release.
The company sold 478,100 class J shares at C$10 per share, a 0.99% discount to the C$10.10 closing share price on May 31.
Proceeds will be used to fund mortgage loans invested in from time to time and for general corporate purposes.
Timbercreek is an investment fund that acquires and maintains a diversified portfolio of mortgage loan investments. It commenced operations on Jan. 19 with the completion of an initial public offering and is managed by Toronto-based Timbercreek Asset Management.
| Issuer: | Timbercreek Senior Mortgage Investment Corp.
|
| Issue: | Class J shares
|
| Amount: | C$4,781,000
|
| Shares: | 478,100
|
| Price: | C$10
|
| Warrants: | No
|
| Settlement date: | June 1
|
| Stock symbol: | Toronto: MTG.TO
|
| Stock price: | C$10.10 at close May 31
|
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