Non-brokered private offering sells 1,961,300 units at C$5.60 apiece
By Devika Patel
Knoxville, Tenn., Sept. 22 – Firm Capital Property Trust said it completed a C$10.98 million non-brokered private placement of units. The deal priced for C$10.08 million on Aug. 4.
The company sold 1,961,300 trust units at C$5.60 apiece, which is a 0.36% premium to the closing share price of C$5.58 on Aug. 3.
Proceeds will be to repay debt under the company’s credit facility, to strengthen its balance sheet and for acquisitions.
Toronto-based Firm Capital, through its mortgage banker Firm Capital Corp., is a non-bank lender providing residential and commercial finance.
| Issuer: | Firm Capital Property Trust
|
| Issue: | Trust units
|
| Amount: | C$10,983,280
|
| Units: | 1,961,300
|
| Price: | C$5.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 4
|
| Settlement date: | Sept. 22
|
| Stock symbol: | Toronto: FCD.UN
|
| Stock price: | C$5.58 at close Aug. 3
|
| Market capitalization: | C$51.09 million
|
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